Plot hole: Why would the club/casino accountant let Jack take the money without reacting, and then - just as he got away, go berserk with a machine-gun - and keep shooting even though he was gone?
Plot hole: At the beginning of the movie, Lady Sarah Ashley's husband is killed before Nullah rides to Faraway Downs. There he sees Sarah go into the home and find her dead husband. This would mean that somebody had to recover his body and transport it to Faraway Downs faster than Nullah, who went straight there following the murder.
Plot hole: A tunnel is used for escape in the opening scene. Based on the massive effort exhibited in The Great Escape, how did they dig such a tunnel w/o access from the barracks? Where did they deposit the dirt? Effort to dig such a tunnel would require massive time, effort, and wood. All that effort for only 2 guys to escape.
Plot hole: As the Spanish fleet looms out of the fog, Hornblower is able to identify individual ships, a remarkable feat since every ship is wearing the same paint job.