Cold Water Diving

Gerrard can be found west of Minoa. From the outpost with the museum head west across the river. Now head north until you reach a bridge. Gerrard is found on the bridge. At co-ordinates 111,108.

Story
Gerrard has lost his ring in the river by the bridge. He wants you to fetch it for him because he can't get it due to the beasts in there.

He also mentions that there may be some other treasures down there.

Quest Objectives
To complete this quest, the player must:
 * Kill the Kraken and loot his key.
 * Use the key to access the chest and find Gerrards Ring.
 * Return Gerrards Ring to Gerrard.

Quest Walkthrough
At the bridge you can use the side of the bridge to access the water. This underwater area is similar to Labyrinth 4 so you start drowning when you enter it. Once you enter it you will be in an open area with Bottom Dwellers wandering around. The Bottom Dwellers all carry potions that allow you to breath temporarily underwater.

Obtain a few potions and head north to an underwater structure. In here are some Lurkers along with a Kraken at the end of the building. The Kraken has a Underwater Key. In the building there aren't any Bottom Dwellers so you will need to make sure you have enough potions to allow you breath while you're there. Four-six should be sufficient.

Once you have the Underwater Key leave the building and head West. You will come across a small area blocked by a locked door. The Underwater Key will give you access. Inside is a locked chest that the key will also unlock. Inside the chest is Gerrards Ring.

Once you have the ring return to Gerrard to complete the quest.