Lake Baulárvallavatn is about 1.6 km² in size and 47 m deep, at its deepest. The lake is about 193 m above sea level. Vatnaá flows into the lake and the outflow is Baulá, which later merges with Straumfjarðará, which is famous for good salmon fishing. There is good brown trout fishing in the lake and the average weight is about 2-3 pounds. Larger fish are caught, up to 5-6 pounds, especially at the twilight. The fishing is consistent throughout the summer, although spring is usually the most rewarding time. Fish can lie deep and then it is necessary for the bait to sink. Spinners and worms generally give excellent fishing. In the twilight, brown trout travel to areas closer to the bank and then it is good to use a fly.