The Gutter

Found by heading down from the hole in Majula.

Description
Very confusing difficult to navigate area. The small statues spit poison darts, be  sure to smash them. Upon reaching the area in the beginning there is an easy to miss bonfire. Drop down from the ledge with the 12 or so poison statues onto a rickety "roof" then drop down from the "roof" into the "house." It is slanted, at the lower end of the "slant" look down and drop to the first bonfire.

A door similar to the one opened in the Black Gulch with the Forgotten Key can be found by heading across the connecting area from the first bonfire, then dropping down and in, then taking a left before jumping to the platform with the two hollows, one holding a torch. Here near the wall of the level is a ladder heading up with a room filled with poison statues and the Forgotten Key door. Inside are a metric shitload of poison statues and Havel's Armor.

Getting to the second bonfire requires the player to go straight out from the first, until they can drop down near a bridge. Cross the bridge, hand a right and head up a ladder to cross a second bridge. After crossing the second bridge look down and to the right where you will see 5 or 6 poison spitting statues, that is where you want to head. Drop down jump over to them and head to the right around the corner to the 2nd bonfire. If you head across the third bridge you will find a small cave with a Wicked Great Shield of Evil Eye or something, that works like the ring, but is a shield.

Near the 2nd bonfire are a bunch of ladders, heading down them will take the player to the bottom of the Gutter where there are a handful of hollows and a funny looking batch of Jars. Blast the jars from a distance otherwise suffer having all your gear broken and in need of repair at the blacksmith. Drop down, grab the fragrant branch of yore and continue on to the Black Gulch.

Loot
Lots of stuff to be found one the way down. Highlights include:
 * Ash Knuckle Ring
 * Radiant Life Gem
 * Token of Spite
 * Dark Pyromancy Flame
 * Ring of Soul Protection
 * WIcked Eye Greatshield