Motor Alarm

I would appreciate any help anyone can give me.
This weekend I took the boat out for a short time and ran into a little trouble.
I was only out 45 minutes, if that, when an alarn went off and I had to return.
I got back alright. When I went to take the boat out of the water is when I spoted oil all over the back of the boat. I would say atlease a good 8 oz. of oil came out of the motor. This happened when I trimed the motor up to put the boat on the trailer. I guess this is what the alarm was all about.
My oil and gas are not mixed in the same tank. It was pure oil.
My question is ( since I don't have a manual ) what could have happened and where should I look to trouble shoot this problem? Did something break or hopefully something came lose some where.
Mercury 150 hp --- 1997 Salt Water series
Thank You to all that reply

Re: Motor Alarm

Did you take the cowling off the motor? It may be as simple as a busted hose. I don't know what distance you traveled after the horn went off but I'm guessing you didn't add any oil to your gas. Good luck!

Re: Motor Alarm

I had just gotten the boat back the week before from the shop.
Reman motor so I was runnuing doulble oil for breaking in time.
The motor wasn't running without oil. They had put a 1 1/2 gals. in the gas tank.
Since I posted my thread, I found an oil hose without a clamp and the oil tank cap ( inside the cowling ) was lose. On the tank in big letters "WARNING" oil may overflow if cap is lose.
I ran the motor, in my drive way, for an 1 1/2 hours without the alarm coming on. We will see how it works in the water this coming weekend.
Thank you so very much for your time and reply.