The title promises some good kitschy schlock fun, and the film delivers it. A prehistoric beast that once roamed primeval waters is back, and very hungry. It visits Puerto Vallarta to hunt and feast on anything that moves.
The creature is designed pretty well, and it's quite an acrobat. It lunges out of water to chomp on copters and para-sailors. It hangs ten to grab surfers, and jumps over road blocks set up by the local policia. Why it's here is not really explained, but it may have to do with not eating for 65 million years or so; this thing has one dino-appetite. Nobody is safe, and Sharky devours a few people you wouldn't expect. Walk-on characters fare worst of all; appearing just long enough to encounter you-know-who.
A tour-boat guy, a girl scientist who works a menial job, and a big-dino-fish expert are the only ones that bother to do anything about the monster. By the way, the white-coated expert on prehistoric sharks is played by none other than B-movie wizard Roger Corman himself, in a rare turn in front of the camera. And he does a good job in the role, too.
Good action, combined with some cheesy effects, makes for a good ride as our heroes try to stop the ancient creature's hunger rampage. This one is pretty fun to watch.