I agree it is an ok attempt considering this is your first logo. You've got quite a nice idea with the water drop and the 'o' but the whole thing needs to be executed properly. As a designer it pains me to look at, as the kerning and composition is just horrific. You say it's not the hardest thing to do and I can see why - it doesn't look like you've spent much time on it. Going on from the MS Word comment above, it really does look like you selected a font, typed everything out, hit central alignment and that was job done. When you are designing a logo, ideally you want to use a more inspiring font, a font that not any tom, dick and harry would have pre-installed on their pc/mac. You then want to take care of the typography, have a nice layout and correct composition. These are just some of the basics of not only logo design but design in general.
But as I said, it is a good start for at least showcasing your idea.