Mysterious Magical Formula

That's annoying! I should have caught a Flame Butterfly by now if I want to assemble all the ingredients in this magic formula before big brother gets back. 
This formula was developed by the brilliant sorcerer Regin who reigns in the Kolydian mainland. They say it rapidly increases your defense and attack strength! However, it contains one ingredient that I can't get my hands on!
The ingredient is known as Flame Butterfly. It is an organism that derives all its sustenance from the Essence of Flame. But try as I might I can never catch the Flame Butterfly as it bursts out of the Flame Cocoon! 
Your skills aren't bad. Could you catch a Flame Butterfly for me? I raise the Flame Cocoon I bought on a hill in the eastern part of the moat surrounding Varanas.
This is Essence of Flame. When you sprinkle Essence of Flame onto the Flame Cocoon the Flame Butterfly inside will absorb the nutrients and burst out. That moment is the best chance to catch a Flame Butterfly. 
Rewards
== Gossip ==
If big brother finds out I'm doing secret deals with the Black Blood Merchants he won't be too pleased, that's for sure!
== On Completion ==
Cool! Now I have that I can move on to the next stage!
== Notes ==
The Flame Cocoon is on a little island in the river north of , at . You need the in your backpack, and need to click on the to get the to spawn. If you do not attack the , it will disappear and you will have to abandon the quest and retake it. If you kill the in 1 hit, you will have to abandon the quest and retake it. The quest will complete after you hit the a few times. To do this, take off your weapons and maybe all your equipment so you can do the least amount damage possible to the .