[Radek]

First of all, it is possible to emerge from the water. Really! Second, you are not the first who has a big problem there. Most likely, the cause of the problem is the configuration of the orifice: almost all your moves make you hang on some edge or corner. It need not be apparent visually.

I have found that:
1. You will have a best chance to emerge:
a) if you select the smallest character in your party as a leader, as Willow has noted, and
b) if you will look a bit down during your attempt to emerge. Only a bit, not too much down. The tip is somewhere in the Best Tips thread.
2. Emerging from the water is much more difficult if you have windows 2000 or windows XP than if you have DOS (windos 98 or Me). But you can succeed still.

If you lose patience then simply give up. You are losing nothing. If you emerge from the water, you will find a short tunnel leading to a snake figurine. The figurine opens the way to a book with answers needed at the Spirit of Naga. That's all. No lost items, no lost XP. If you know the answers from elsewhere then you do not need the book or the figurine. The answers are in the Best Tips thread.