I have a 1996 Searay Bowrider with a 4.3L 6cyl 2 barrel Alpha GenII. I checked the oil on Friday, no water in oil. I ran the boat for about 2 hours on Saturday while fishing. Sunday morning I put in at the dock and ran for about 10 minutes when the engine started knocking and then completly shut down. I opened the engine cover and saw the mayo looking emulsion spewed all over the engine. About 1-2 gallons. Before I start tearing the engine down has anyone seen this? I know a bad head gasket could be the likely culprit as well as a hole or crack in the exhaust manifold. The reason I ask is if its a head gasket or manifold then I'll replace it myself, but if I'm barking up the wrong tree, then I'd rather find out from you guys that know, or if you have any other advice or other things I should check first.