Once your buddy is in panic situation, he won’t listen to you. Any attempt to calm him down may just futile effort & wasting precious air left in your tank. I say this because it just happened to me last Sunday.
Here is what happened to us. I went wreck diving to 90’ deep with a newbie who rented his gears. We discussed about how we were going to dive the wreck (going down along the anchor line). I showed him my hand signal for half tank (1500 psig) and empty (500 psig). Since I’m the more experienced diver, he offered me to lead & he’d follow. He’d tap my shoulder when he reached 1000 psig, so we could begin to ascend.
We went down to the wreck uneventful (visibility was about 40’, water temperature was about 73F). Once we reached the wreck, his rented reg started to make funny whistling sound and he tapped me on my back. I turned around and look at his SPG and noticed some bubbles streaming out of the fitting, not bad enough to be alarmed, and his pressure was still about 2000 psig. Mine was still about 2600 psig. I look straight to his big round eyes and gestured an OK & an up/down waving hand signal to calm him down & point my finger to his SPG that he still have plenty of air, sticking 2-finger up to sign for 2000 psig. Then trying to tell him when his SPG reached 1000 psig, then we could go up by pointing to his SPG & sticking my index finger & thumb up. But his was in shear panic & just started to fin his way to the anchor line. All I could do was to follow him back up & to make sure that we did a 3-min safety stop at the bar hung by the boat at 15’ depth.