Water effect needed

Hi Guys,

Do you know how to create water effect? I mean to look an object as it is in the ocean.

Any idea is well appreciated

Thank you

you can find some ati papers for that.
and rendermonkey has a example for reflections and refractions.
if you dont want to use shaders you may make simple effects with projective textures, spehere mapping…etc but it would not be easy and good-looking.

Thank you, do you know a URL for that?