The ending
Two ways of looking at this. Kate and Lisa made it to the boat. Not before another shark attack. Neither one made the boat because Kate was killed straight away and Lisa was pinned in the cage with a bloody leg. Lisa drowned I think because she was out of air. Now the alternative is that Kate is still dead after the shark attacks her but Lisa is rescued by the coast guard. Realising her sister was eaten she lets herself drown as she slowly floats back down because life isn't worth living. Personally I think they should have ended it while Lisa is still in the cage and fades to black as she sees she has no bar left on her regulator.
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