I recently aquired an early 70's Sea Ray SRV220, with the 225HP Mercruiser. The vessel had sat in the weather with no cover for the last 5 years. I managed to get the engine running today, and noticed water gushing from a missing freeze plug; i fixed the freeze plug and started it up again. It now has no water leaking, but the dipstick coming from the bell housing area, is foaming at the mouth; thick ping foamy fluid is slowly spewing out. I picked up the boat for very little money, but didnt want to pull the engine. Is there any hope in this being an easy fix? Im guessing that the motor froze, pushing the plug out, and possibly cracked the block; hope not but what do you guys think? Pictures included. Thanks in advanced!