Inciting Event: Thorpe captures the Spanish ship.
First Plot Point: Queen Elizabeth allows Thorpe to launch a mission against Spanish interests in the New World.
First Pinch Point: A spy alerts the Spanish that Thorpe is get ready to sail.
Midpoint: Thorpe and his men arrive in Panama and are ambushed.
Second Pinch Point: Thorpe and his men are captured and returned to Spain.
Third Plot Point: Spain launches their armada against England.
Climax: Thorpe and his commandeered Spanish galley arrive back in England.
Climactic Moment: Thorpe gives the Spanish plans to the queen.
Resolution: The queen knights Thorpe and declares war on Spain.