The revolution in Cuba has resulted in many of its citizens, rich and poor, fleeing the island. However, there is money to be made as two generals and some of their countrymen hire a group of American gangsters, led by Renzo (Anthony Carbone), to help them escape with the national treasury, across the sea to safety. Little do they know that one of the gangsters is undercover agent XK150 (Robert Towne), who is determined to sabotage the operation...
Scripted by Charles B. Griffith, who had also written Roger Corman's cult comedies The Little Shop of Horrors and A Bucket of Blood, this was another low budget spoof in the same vein, but not quite as witty. Corman found he had a little time left from shooting two other movies in Puerto Rico, and, economical as ever, devised this effort from the idea that he wanted a horror story where the monster survived unscathed, which is more than could be said for the cast.
If you're hoping for a "running around being chased by the monster" movie, then you'll be let down, because the bug-eyed beast only makes brief appearances, until its underwater killing spree at the end. For most of the running time, this is a tongue-in-cheek thriller, complete with Philip Marlowe-style voiceover by the inept government agent. While inspiration tends to peter out after a while, the humour is a mix of wisecracks and daft jokes, some of which are surprisingly funny.
Renzo's wicked plan is to lure the Cubans out into the middle of the sea, then start killing them off under the pretence that a sea creature is eating them. XK150 listens at the door as the gangsters make their arrangements about where to land once they've changed course, and despite admitting he can't hear anything through the door, picks out the suggestion "Bali!", and radios his superiors to prepare to meet them at this destination.
Unfortunately, it was only a passing suggestion and they're going to Puerto Rico instead. Silly humour like this abounds: one of the gangsters has a penchant for animal impressions, and they certainly get their money's worth out of that joke. At another point, the Renzo's moll Marybelle sings a moody song, which is obvious padding, until a) you notice it's actually called "The Creature from the Haunted Sea" and b) she continues singing as a bunch of revolutionaries are machine-gunned to death. It may look like it was casually filmed on holiday, but the movie is amusing enough, and doesn't take anything seriously. Music by Fred Katz.