It certainly isn't an Electramatic, first pic confirmed that. As mentioned, that 2 tone paint certainly makes the Vintage, and Model a guessing game, until more info. Racer is likely close, by 61-62, the Trailer Lock Clamp on the Port Transom Bracket/Clamp was no longer provided
This should start a War; as for Oil, all the 35hp/40hp engines from 57 to 63 can run the 50:1 ratio, as there were no changes to the Bearings and/or Clearances when 1964 came along. In 64, OMC did put a Tin Plating on the Pistons to ease Break-in, but during the Break-in the Ratio was 24:1 for the first 10 hours.
Lightening up the pic, reveals an other off white, rather than E-Blue