Well i dont think i can change my shutter settings but i do have a self timer will that do?
You'll NEED to take control of the shutter speed. Looking at the camera's stats, it appears the shutter maxes out at 15 seconds. This isn't ideal, but is not a terminal flaw. The self timer is irrelevant.
Set ISO to 80 or 100. The lower the better. Make sure any auto-iso nonsense is disabled.
Figure out how to focus the camera. Is there a manual focus option? If not, you may have a hell of a time shooting at night.
Disable any auto-flash.
Place the camera in manual mode. Set the aperture to f 5.6 ~ 6.7 or so. Jim's blog has some good info.
If it's dark, set the shutter to the max of 15 sec.
If it's still twilight (bright enough for the camera's meter to work), use Aperture priority instead (Av); set the aperture to 5.6 or so, and let the camera's meter determine the shutter speed. Or leave the camera in full manual mode and chimp the previous exposure to adjust shutter speed until the scene is correctly lit.
Basic exposure rules: Adjust aperture to match lightning's brightness and distance. If the lightning is blown out, stop down and vice-versa. Adjust shutter speed to alter background (anything non-lightning) exposure.
Mash the shutter. You'll probably want to whip up some device to hold the shutter down. With the camera in continuous shooting mode, it will machine-gun off shot after shot. Eventually, you'll catch some lightning.
If you haven't already done so, get some rechargeable NiMH batteries and a decent charger. Continuous shooting like this will drain the batteries quickly.
Try to include some foreground objects in the picture. Think of it as taking a pretty picture that just happens to have lightning in it. If you shoot at twilight, you'll have enough light to show the terrain, yet it will be dark enough for the lightning to stand out. Your camera is easily capable of taking pictures like this (this shot was a short 3.2 second exposure with the camera in aperture priority autoexposure.)
http://www.flickr.com/photos/19806236@N00/4154307225/in/set-72157622800084513/