This paper is attempt to compile an experience of applying a co-management approach to manage the open water resource by Susilowati (1999, 2002, 2004, 2006, 2007). An institutional analysis based on Pomeroy and William (1994) and Pinkerton (1989) with necessary modifications was applied to the respective studies. The results indicated that there is a fairly good prospect to empower the competent stakeholders (community, government, private, independent parties) to be involved in managing the open-access resources. However, all parties need to be encouraged in order to achieve a high degree participation and commitment, and somehow to create their sense of belonging to advocate resource management. The chances of this being achieved are helped by the high degree of commitment to conservation of the resource shown by formal and informal leaders in Indonesia