Minerva Metastasis has waves, it's just a wave texture set to move in a certain direction, basically the same thing they did in Halo 1. The textures are included with HL2, but the defaults are broken. You'd need a new vmt file to fix it. Note that it doesn't have any height, you'll need a model for that, if you can simulate it properly.
Here's how water as post-processing effect looks like (that 50-100 lines): http://www.youtube.com/watch?v=qevGm_8wMJk http://www.youtube.com/watch?v=syKuS9FnG04 http://www.youtube.com/watch?v=JjAXlUSBtD4 It's obviously better than normal water texture.
