Venari Wavesmith was a game changer for me and turned this into my current favorite team (not considering the sparse high-mana battles):
Summoner: Alric Stormbringer
#1: Albatross
#2: Ice Pixie
#3: Venari Wavesmith
#4: Captain's Ghost
#5: Sea Genie
#6: Creeping Ooze
Thanks to Venari, Albatross can become a decent tank other than a useless filler, without the need to use a high-mana tank. Creeping Ooze now can survive more than one hit and lasts for longer against enemies with sneak and opportunity.
The extra mana I have due to using albatross as a tank allows me to use Captain's Ghost and Sea Genie.
Of course, this strategy becomes useless if the enemy is also focusing on magic attacks, and can be quite screwed up by the usual void tanks.