I remember when Sharkbone Warhammers were pretty much BiS for the classes that could use them!
If I were you, I would try to get two (2) Platinum Fire Wedding Rings (5 AC/55 HP, ~250pp) and a Slime Coated Harpoon. If you can haggle with a seller you might be able to get the Harpoon for 150pp, and it would increase your DPS by >20%. with the extra 10 AC and 110 HP from the rings, I think these items would be your best investment at this time.
There is a damage cap prior to level 20, so the Club of the Ice Ocean wouldn't be worth it until then.
Edit: Also, Inner Fire (2.0 HP/mana) is more mana efficient to use for heals than your actual heal spell (Light Healing, 1.3 HP/mana) at your level. Iirc, nothing beats Inner Fire in terms of mana efficiency until you get Superior Healing at 51. Although, at higher levels it's just better to cast Healing or Greater Healing once than Inner Fire 5 or 13 times, respectively.
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