AQ145a water in oil and bilge pump area

I have been researching posts and have to post my own, Irecently had a problem with my oil cooler letting water in my oil and going out my leg. The boat has been running great , had it out yesterday no problems , and this morning I went out and saw milky water in my bilge area so I checked the dipstick and have water in my oil. I had to run my motor again as we were in salt water. the motor runs fine like it always does, when running the boat yesterday the motor never got hot and has never heated up on us . I opened up the release valve attached at the side of the oil cooler and clear water came out. looking for some help and hoping it is not a cracked block or anything along those lines. Again the motor still ran fine this morning as it usually does , will inspect for exterior cracks tomorrow. could it be the raw water exchanger gasket?, there is also no milk in the self contained heat exchanger , thank you in advance for any help

Re: AQ145a water in oil and bilge pump area

I was reading a post from another member and he had this to say about his problem

The problem turned out to not be motor related. The plastic valve in the exhaust had melted and my trailing wake had flooded the engine. So with a new $20 valve and a fresh Carb cleaning the boat ran for 2hrs last night with no issues except for a slight sputter because the timing is out. Thanks for all the input.

Could this be a problem I am having?