This is a mystery to me. 2 weeks ago I pulled my 26 ' Searay Merc Gm 350/260hp 35 miles for storage. The week before I had ran the engine using muffs at max rpm of 1000 for 5 minutes just to test cranking and warming up. Raised stern and fastened down for move to storage. Checked oil and very clean after changing 2 weeks ago. Added fluid to stern drive motor pump and all was well. Pulled boat to storage and I put a cover on. I left the stern up. I went by today and was checking engine area and noticed about 3 pints of liguid in bilge. Checked and it was oil looking and feeling. Pulled dip stick and oil looked milky. Water in oil but over full on stick. Checked the oil filter and not oily or wet. Checked fluid line on stern motor and no leak or oil. What's up? I am planning on checking oil asap and filter and look for more leaks.