A top-secret government satellite has exploded and sent an important surveillance device plummeting toward Australia where it lands and is swallowed by a crocodile. With its one million photos inside having the potential of changing the power structure of the modern world should they fall into the wrong hands, the CIA sends agents Bob Wheeler (LACHY HULME) and Vaughan Archer (KENNETH RANSOM) to the outback to retrieve it as covertly as possible.
Little do they know that their local contact, Jo Buckley (KATE BEAHAN), is really an agent working for the National Reconnaissance Office who's been sent by Deputy Director Harley Ansell (STEVE VIDLER) to act as if she's assisting them in order to seize the device.
Little do any of them realize the difficulties they'll face in finding the croc. Beyond its elusive nature, there's local ornery cattle farmer Brozzie Drewett (MAGDA SZUBANSKI) who only hates trespassers more than she does crocs, and wildlife ranger Sam Flynn (DAVID WENHAM) who tries to keep her in check.
Then there's Steve and Terri Irwin (STEVE & TERRI IRWIN), a married couple dedicated to promoting and saving the natural wildlife of their homeland. When the Irwins assume that the government agents are really poachers after the local croc that's been annoying Brozzie, they set out to capture, transport and then release it far away from danger.