Odd, Oil water mixture coming from outdrive, any ideas? Cobra OMC

I have a 2007 merc. 4.3l engine with a 89 OMC Cobra outdriveHello, Just winterizing my boat today and had the drive down and noticed gear oil coming from around the prop. Now my engine exhaust is been changed from coming out of the prop area to strait exhaust that comes out of the back of the boat; meaning the exhaust to the outdrive has been bypassed. Anyway I pulled the prop and checked the shaft seal; you know the one that is about 2". There is oil/water mixed beneath that. Where could the oil be leaking from and I did pull the stick on top of the outdrive and there is water in there. What seal could be out. Any help would help. No hurry to fix as my boating season will not start back until April 2010.

Thank you,
Allen

Re: Odd, Oil water mixture coming from outdrive, any ideas? Cobra OMC

There's a lot of hurry!

You don't want water in the drive over the winter.

Re: Odd, Oil water mixture coming from outdrive, any ideas? Cobra OMC

Well any ideas. I have taken it off and is stored in my basement where it says heated.

Thank you,
Allen

Re: Odd, Oil water mixture coming from outdrive, any ideas? Cobra OMC

There is nothing odd about leaking seals. It happens. Drive needs reseal, now.

At the very least you need to drain the drive oil/water and refill with clean oil.

Letting it sit like that....the water will separate and seek the lowest place. The water will now rust steel/iron and corrode aluminum over the winter heated or not. It could also freeze (not heated) and crack the housing.

Meaning if you leave it as is you will be replacing bearings, gear sets, etc.
This is one reason we WINTERIZE boats so as not to leave and moisture in them to do it's damage.

Best to take drive to shop for reseal. They can pressure test it to determine where the leak/s is/are.