Of course, you would need to be able to make flasks of oil and water, which you can't right now.
You can make many elemental arrows by combining elemental resistance potions with arrowheads. Poison arrowheads are created by combining poison potion with attowheads. Poison arrowheads can be combined to make poison cloud arrowheads. Charm arrowheads are created by combining drudenae or charm potions with arrowheads.
