A cool video has emerged from Australia of a camera being lost and found in deep water during a paddle boarding excursion.

In the footage, captured at Lobster Beach on the Central Coast in January, the GoPro camera is passed between friends before it suddenly falls into the water.

It then captures the view from the seabed as waves roll over it for some time before a member of the group manages to spot the expensive device and dives down to retrieve it.

“While relaxing at Lobster beach with the boats we decided to take paddle boards out near box head for some fun on the small waves. The GoPro was dropped because the safety leash wasn't tightened up on the arm and had no floaty back on it, yet. Lesson learned,” the filmer later wrote online.

A cool video has emerged from Australia of a camera being lost and found in deep water during a paddle boarding excursion.

In the footage, captured at Lobster Beach on the Central Coast in January, the GoPro camera is passed between friends before it suddenly falls into the water.

It then captures the view from the seabed as waves roll over it for some time before a member of the group manages to spot the expensive device and dives down to retrieve it.

“While relaxing at Lobster beach with the boats we decided to take paddle boards out near box head for some fun on the small waves. The GoPro was dropped because the safety leash wasn't tightened up on the arm and had no floaty back on it, yet. Lesson learned,” the filmer later wrote online.