Wildcatter Jeff Dawson does his best to bring in a gusher in Mexico despite continual bandit raids. He asks for help from his ex-employer Ward Conway, but Conway, now married to Dawson’s ex-lover Marina refuses, fearing that his wife will want to renew her romance with the other man.

When the murder of an archaeologist puts a valuable medallion into their hands, Abbott and Costello waste little time in trying to sell it, only to find themselves pursued by police, a slinky adventuress, an Egyptian high priest, and the mummy himself.