I don't think it is recoverable. However I had a Samsungs iSh-300 that I dropped in water. I recovered from the water fall by placing in an oven at about 150 dregrees F for aobut 24 hours. I had taken the battery out first. I did not turn the phone on. When all is soaked and the battery is turned on all kinds of things can happen. The switch can connedt the battery to all of the componets and cause a disastrous destructions of major parts.
I would not hold much hope that it has survived. But try anyway all you have to loose is the power of the oven to heat it up. Do not use Micro wave!!!. Try and remove the battery first. It could survive the heat but don"t take a chance.
I wish you good luck should you decide to try this.