OOC Too
I'm not sure what of the treasure belongs to us and what belongs to the king. I know we were initially sent to the Lyceum to bring back funds to rebuild Kalaman. I'm not sure what you guys have divvied up yet and what goes to the king, but Olven will suggest giving the lion's share of the gold and gems to Kalaman, since that's what we were sent to do.
Olven will suggest that Roisin and Olven return the elemental water to the dwarven cleric. He will make excuses in order not to accompany them.
For Olven's share of the treasure, he will invest in some clothing befitting his new status (an unexpected and thoroughly undeserved gift), a horse (ideally trained for war with bit, bridle, bandings, and the rest). Whatever other money he has, he will invest in his barony - hiring staff (guards, a seneschal, a housekeeper, a cook). If there's anything else, he'd like to invest it in the barony itself to build it up - perhaps he can invest in some kind of industry, agriculture, or commercial endeavors.