This is going to be a bit long, because I want to include as much as possible. First things first, I have a 1978 17.5' fiberglass bass boat. The motor is a 1978 Mercury 1500. Three weeks ago I went out to the lake and hit a huge rock. I was barely going, (in first gear if you will), and when I hit it, the whole motor turned off. I only stayed out about another 30 minutes, then ran back in and everything seemed fine. One week later I go out, and get about half way across the lake, thinking something sounds wrong. Then it quickly starts missing out. I get ready to turn around, so I kill the engine to check vitals. I restarted, and when I try to put it in gear, it just stuttered and died. Similiar to popping the clutch on a truck. Anyway, tried it a couple times, same thing. It seemed to get worse. First time it went a bit then died, the last time, it wouldn't even move. I trolled in to the dock, and tried it once more, same thing. After I got home, I noticed that where the powerhead meets the lower end of the motor (right about water level) there is some oily substance on the motor. This is not the lower unit, it is the part that connects the lower unit to the powerhead. This may be unimportant, since I have a small tilt and trim fluid leak. I haven't touched the boat since, but I am on vacation this coming week. If I can't find a fix (for cheap) I will likely sell the boat. Please HELP!!!! I don't want to be boatless!! Let me know any further info needed. Thanks in advance!!