Ok, You super wrench's...I need help, and a cure for my 1974 70hp Johnson...I have a oil leak coming out down by the prop. The oil is black, and takes a few days to leak down to that point. I have been out with the motor about 5 times, and changed the oil in the lower unit a few times because I rebuilt the lower unit this winter, Making sure there is no water in the lower unit. There is a little water in the oil, and a little milky. I took the lower unit off today and see no oil leaks around the water pump housing, or the shift leaver housing. HOWEVER, shining a flashlight up the exhaust housing, I see black oil, that as I said earlier, creaps its way down to the exhaust down by the prop. (takes a couple of days to leak) Do I have a major problem? The motor runs fine, starts right up, 5200 rpm...35mph pushing a 900lb starcraft. Spark plugs are clean. LIke I said I don't see any oil leaks around the oil seals by the water pump, drive shaft, shift rod cover, or the oil seals around the bearing housing shaft that hooks up to the prop. HELP!!! Thanks, Dan