Gods of the Deep

 Amateur level made, low budget B-movie C'thulhu movie?  

I'm sold to check it out!

 

And in case you doubt it is set within the mythos, it takes about a full 2 minutes before the first reference is dropped, namely the Myskatonic University. 

Jim Peters is recruited to join an expedition to a newly discovered, deep trench in the ocean, where ancient ruins have been found.  Clearly constructed, the Pickman Company believes important discoveries can be made there and they build a special submarine for this mission.  Which looks small on the outside, but like a Tardis is way bigger inside with industrial complex tunnels as gangways and multiple floor hangars but heck, it looks the deal.

As soon as the mission takes leave though, the pressure (pun intended) is on as the boat creaks and springs small leaks.  But they reach the temple, summarising it is some sort of doorway, and sail through... losing 3.5 hours in what they feel is like minutes.  Arriving inside they see a dead organism on the bottom, and Pickman, who is on board himself, orders them to investigate.  They retrieve a small tentacle sample, but in doing so awaken an ancient horror.

While the submarine manages to get away, the tentacle springs to life, so is stored and isolated... by putting a shower curtain over it.  Pickman becomes obsessed, and eventually merges with the creature, as one by one the crew fall to the evil influences and insanity that starts raging aboard in true C'thulhu fashion.

In the end only single mother Christine makes it back, only to give birth to a slimy tentacle creature bursting from her abdomen... so not a happy ending in this movie.

Now, truth to be told, this is one of the better low budget movies I have seen in recent years, making good use of lights to set the mood during the scenes and even the story itself isn't to shabby, nor are the dialogues uber campy.

If you like these sorts of films, or the mythos, it might actually be worth to spend little over an hour to watch this work of love.