I have a 1971 55HP Chrysler. On the LU, statboard side, just above most bottom section that holds prop is a little hole. What is it's purpose. I have heard for exhaust oil overflow. I want to know. I resealed my LU 3 months ago. I just replaced the bearing cage and filled with LU oil. The small hole on my LU has oil water mix coming from it. It is grey and bubbly oil with water.