Hello I drained my 1989 5.7 cobra outdrive today. I started by removing the bottom plug and gear oil started to come out then i removed the dip stick and it continued draining so i removed the middle plug and a small amount of water came out about a table spoon full. The oil has been in the outdrive since last season and has been in there all winter. I was wondering is this a leak or condensation. This is my first time changing the gear oil in this boat since i bought it in september of 2011