Balicasag lies to the south of Panglao, 30 minutes by boat from Alona Beach. There is a resort on the island (do some snorkeling on the beach just outside - there are some colorful dragonets living on the sand). There are several very nice dive sites around this small island. Black Forest: Slight slope. It is a very nice dive site with black coral bushes (they are actually light green to yellow). You might meet the resident solitary Napoleon, and if you are lucky, the large school of mackerels or barracudas. Actually, on one dive, we encountered the mackerels three times - the school moved away to the open ocean several times, but appeared again. The reef-edge is also especially rich in small fish.
Balicasag Marine Sanctuary: Steep wall. This site is located on the western side of the island. Schools of jackfish accompany you on your dive, groupers swim below.
Heaven: Steep wall, mostly drift-dives. This place has very nice coral and a cathedral-like cave. Sometimes you can see turtles, sharks and Napoleon wrasse.