The Phantom from 10,000 Leagues

I'm all for low-budget sci-fi thrillers; I used to watch them late at night as a kid. This, however, has virtually nothing to redeem it at all. Some radioactive activity down in the depths has created this devilish looking creature; and our intrepid team of scientists investigate it after bodies start washing up on the shoreline. The problem here is masterly inactivity - nothing happens. The phant...