Sea Hunt Game / Playset by Watergames Inc.

This game is in a large rectangular cardboard box (28” x 16” x 3”).
The outside is shown here and features Mike Nelson, Lloyd Bridges, ZIV Authorization (1959/1960) & the company name.
Included is a set of 4 buoyant fish, weighted reels for each fish, 2 air-powered “spearguns”, 2 masks & an instruction booklet.
The masks are full face masks for kids.
It is essentially a spearfishing game for kids.