Kraken: Tentacles of the Deep

Kraken Tentacles of the Deep, also known as Deadly Water, is a 2006 madefortelevision natural horror Bmovie produced by Nu Image Films and Brightlight Pictures as a Sci Fi Channel original film. It premiered on the Sci Fi channel on September 23, 2006. Directed by Tibor Takcs and starring Charlie OConnell, Victoria Pratt, and Jack Scalia, the film focuses on a marine biologist and a sailor who join forces to find lost Trojan treasures while battling the giant squid who killed the sailors parents while he was a child, and a treasure hunting mobster who wants the items for himself. The film was primarily panned by critics for the special effects, farfetched plot, and scarcity of scenes involving the titular creature.

During an outing Nicoles boat is attacked and the boats captain is killed leaving everyone in a panic frenzy. The survivors are forced to return to shore and begin to fix their boat while searching for a new skipper. Ray, a sea creature hobbyist pays a visit after learning about the circumstances of the previous skippers death on the news. While Nicole is suspicious she allows Ray to join the team in return that he fixes her boat. Maxwell Odemus Jack Scalia, Nicoles competitor, arrives to taunt Nicole and then offer to join forces with her, but she declines as he tends to steal other peoples archaeological finds to sell on the black market. Eventually, Nicole and Ray find the likely spot for the opal and return to shore to prepare themselves for the retrieval mission.That night, Maxwell has one of his goons, Ike Aleks Paunovic pay off a drunken Michael to learn where Nicole amp crew are going, then has their boat burned. Recognizing the distress and brokendreamed Nicole, Ray buys a new boat using his life savings, and the crew heads back out. Maxwell uses the coordinates acquired from Michael to drive out to the treasure spot and his group attack when Nicoles team arrive. Holding Michael, Jenny, and Sally hostage to force Nicole and Ray to cooperate and dive for the artifacts even though the squid is certainly waiting below, Maxwell gets Ike to shoot Michael, who dies not too long after. Sally, Jenny, and Nicole still are in a fish container that starts flooding from the Kraken attacking the boat. Ray emerges from the water and climbs onto the ship and frees Sally and Nicole and leave Michaels corpse. In the battle that ensues, the Kraken kills Ike, Jenny, Sally, and Maxwell before being killed by Nicole and Ray. The boat sinks, while Nicole and Ray are safe and Ray saved the mask. The opal is last seen on the bottom of the sea and the film cuts into credits. ........

Source: Wikipedia