A close-up of the water surface:

A panoramic view of the world:

Yet another panoramic view:

The question is - what''s the difference between screenshots 2 and 3? Took me a moment to realize, but the difference is that in screenshot 3 the FOV completely encapsulates the water surface while in screenshot 2 a teeny weeny little corner is left outside of the screen. This effect is true no matter from what angle I''m looking at the water or how much of it is inside/outside of the screen. Does anybody have a clue what might be causing this?
Crispy