1972 Mercruiser 140. Just went out to change oil and when I removed the oil pan drain bolt about a pint of water came out before the oil. I ran it all summer and never noticed water in the oil and it never ran hot. Before the first freeze I drained the block via the petcock (left petcock open). Removed the drain plug from the manifold and drain plug from the exhaust elbow. <br /><br />What could be the source of the water?<br /> 1) Not winterized correctly (as mentioned above)?<br /> 2) Blown head gasket? (Boat sat at least 5 years before I fixed it up and ran it the past 2 years) NOTE: I do have a very small trickle of oil on the port side of the engine originating from the head gasket area (only when running).<br /> 3) Cracked block?<br /> 4) Bad exhaust manifold?<br /> 5) OTHER?<br /><br />Where should I begin?<br /><br />Thanks for any help