Re: 1986 Mercury outboard gear oil?
It doesn't hurt for an ounce to escape before you put the lower plug in. On a bigger engine (V6) it's mandantory, or you'll blow seals.
Normal procedure is to pull the plugs, drain the oil. Hook up the pump (which fits quart bottles, by the way) to the drain, pump it till the oil comes out the vent. Put in the vent. Unscrew the pump (a little oil escapes), and without panic screw in the drain plug.
Wipe up the mess and go fishing.
hope it helps
John