I have a 1987 Merc 70 outboard. It has been working fine and while at the lake the warning beeper buzzed a couple of times so I checked the oil resovoir. It was getting down to about 1/4 or so full and started to head back for shore to get some oil. It started to beep continuously after a few minutes on my way back. I put in a litre of oil and went back out but the buzzer didn't stop. It stayed on just about all the time. I checked the oil again and also the engine which didn't feel hot. The buzzer continued on and checking with a partner he said his buzzer would be on continous is there was some sort of fuel problem. I left it sit for a while than went back out and refastened the cap of the fuel tank, open and closed the valve on the tank and squeezed the fuel ball. It went away when I had the valve closed on the fuel tank (which way is it supposed to be?). I went back to shore left it sit for a while and went back out thinking it was fixed but it continued on beeping steady. I don't believe that it was overheating as I left it sit at one point for 2 hours and when I fired it back up it was doing it. It doesn't do it all the time once in a while you can fire it up and it won't be on until you get half throttle and the next time it will be on right away. I have a manual but it only describes the buzzer as a warning for low oil. Help a Canuck.