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Water in Oil, What's Wrong?!?!?!?!

shortridge15

New member
The other day I decided to de-winterize my boat that I purchased from a friend. It's a 1989 Sea Ray 200 Bow Rider, 4.3l Mercruiser. I hooked the muffs up to it and was going to let it run for a good 5 minutes and then I was going to change the oil when it was hot. However, both the exhaust manifolds started spewing out water on the outside of the engine where the bolts are. I then turned the engine off and haven't ran it since. I checked the oil before starting at all and it was the normal color, now when I check it, it is a little milky. When I take the cover off of the top engine gasket (where the oil cap is located) it is the same color. I am just not sure if this is because of the exhaust manifolds or a cracked block or head gasket is blown. It sounded great when I first started it up, no slipping or knocking. I was shocked when I saw it happen. I contacted my buddy and he forgot to winterize it. I found the bronze freeze plug in the transom and greased it and put it back before I ran the motor. I am just curious as to if I need a new engine, or to rebuild this one, or replace the head gasket, or just worry about the exhaust manifolds. I have pictures and I will try and post them. If someone can give me some advice on how to check and see what my next step is. I have a lead on another motor if need be. My finger in the picture shows the crack where the water was leaking.

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