The film centers around four men hunting for lost treasure. The men are plagued with problems from bandits, greed, and dangerous sharks. Eccentric charter skipper Jim Carnahan and his team of hard-luck dreamers battle sharks, bandits and their own greed to recover sunken treasure off the coast of Honduras.The underwater photography is superb. Cornel Wilde produced, wrote, directed, and stared in this film; which he states was a "team effort".