I've got an 82 21.5ft Searay Cuddy cabin with a 898 package. 305 mercruiser and a pre alpha drive.<br />I've had the boat out twice, once the day after I bought it and the temp reached about 210 deg, and the gimbal ring noise was louder than the engine. And then 2 weeks later after the gimbal bearing and impeller were replaced. Sounded great ran great.<br />Out on the water the second time noticed funny noise from engine. So I took a look and saw an ungodly amount of oil in the bilge. Also realized that the steering arm assy, actuator, was leaking out at the end. Then realized someone tried to seal it up with JB Weld at least 2 different times. <br />Also at WOT the temp was slowly increasing towards 180, when I backed off, temp came down rather quickly. Happened each time at WOT, before I realized oil in bilge. Checked the oil on dipstick and there wasn't much there. Maybe about 1/4 inch on stick. Parked it in my driveway and and took a look around. Could not see where oil leak was from. Valve covers are wet on the riser side of them but no evidence of oil leak from covers down the sides of block. Looked in right side valve cover (thru add oil cap) and noticed a little milky/water/oil something. <br />From my knowledge of cars, only 3 ways to get water in oil. Cracked block, head or head gasket. <br />Looked at oil pan and saw a hole on the right side of motor that was about 1/16 in diameter. Also front of oil pan is sopping wet under harmonic balance. How much pressure does the timing chain cover seal hold back from coming out of the front of it? Seems as though the seal has given up. But the water in oil boggles me. Shouldn't there be a lot of oil/water in engine?<br /><br />Would appreciate some help on this.<br />Thank you in advance.<br />korie