There are several items in and around the large pool below the sphinx. Again, you'll need to outswim the first crocodile if you want that achievement/trophy. Swim to the front left corner of the sphinx, where the edge is a little lower, and climb out.
Go behind the sphinx's head and pick up some shotgun shells (5). Continue straight through and hop down on the sphinx's other shoulder.
Swim across the pool to the ledge on top of the submerged doorway. (The obelisk is off to the right.)
If you like, you can shoot the panther (4 or 1)* in the next area through the fence. That way you won't have to face it head-on later.
Notice the shotgun and shells on the ground beyond the fence. You'll be getting them soon.
NOTE: You can take a shortcut to the SHOTGUN by using the so-called "fence bug" to run through at one of the seams. If you're not familiar with this trick, check out my useful bugs section for instructions and screenshots. Note that if you want all the kills, this actually ends up taking longer than the normal route. See the note on the Fence Bug Shortcut at the end of the walkthrough for more info.
Underwater, near the base of the obelisk, you'll also find 2 sets of magnum clips (6-7). Grab them, avoiding the crocodile if necessary, then climb out of the pool on the long ledge near the obelisk.
Take a running jump from the ledge to the top of the obelisk. Standing here opens an underwater door between the sphinx's paws. This door is timed to close after a little while, but the timer doesn't start until Lara leaves the top of the obelisk. So pick up the magnum clips (8).
Save if you like, then take a running jump toward the sphinx. Swim down behind the carved block in front of the sphinx...
...and follow the passage to the room with the pharaoh statues, where you'll hear the chime indicating you've found SECRET #1.
At this point the door reopens and stays open. Swim up and to the right.
You can surface inside the secret room to breathe, but there's no place to climb out of the water and kill that crocodile (5 or 1).* So quickly pick up the goodies on the raised ledges: a small medi pack and 2 boxes of shotgun shells (9-11).
Then swim back through the passageway to the main pool.
Turn left as you come to the surface.
Take a breath and swim through the wide passageway to the left of the obelisk and below the iron fence.
- OR -
Alternatively, if you aren't attempting the "Crocodile Rock" achievement/trophy, as soon as the secret registers, turn around and swim back out. The croc will follow you back to the main pool. Climb out of the water on the ledge or sand bar so you can shoot it. Then return to the secret room to pick up the goodies. When you have everything, return to the main pool, take a breath if necessary, and swim through the wide passageway to the left of the obelisk and below the metal fence.
*NOTE: The running kill counts track the total with or without crocodiles. You'll need to avoid harming any crocs for the "Crocodile Rock" achievement/trophy.
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