Thunderbolt was one of a genre "outlaw" films at the time that tended to glorify the life of the outlaw "Bushrangers" that roamed the Australian outback in pre-commonwealth days. Shortly after this movie was made the government of New South Wales banned the manufacture of this type of film on the basis that they were promoting crime.

H. A. Forsyth produced the film and adapted the novel by Ambrose Pratt, Three Years With Thunderbolt. John Gavin directed the movie, and played the lead role of Frederick Ward. Ward is a cattle drover earning money for his wedding when he is accused of cattle theft and sentenced to seven years at Cockatoo Island. He escapes only to learn that his fiancée has died of grief. He seeks his revenge by taking on a life of crime.