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1996 Mercury 2stroke 150

I bought this boat and motor in December and it started losing horsepower so I changed the plugs. It ran great and started losing power again. I pulled the plugs and saw they had oil on them, cleaned them up and it ran good again. Now it's losing power again. Somehow I think it's putting to much oil in the mixture. Does anyone have any advice on correcting this issue?
 
Hook up a remote fuel tank to the engine and run it. A slight fuel restriction will cause a rich oil condition.

Change the $15 Crankcase check valve that pressurizes the oil tank.

Part Number 43278

You cannot clean this part. If it over pressurizes the tank it will cause a rich oil condition also.
 
Hook up a remote fuel tank to the engine and run it. A slight fuel restriction will cause a rich oil condition.

Change the $15 Crankcase check valve that pressurizes the oil tank.

Part Number 43278

You cannot clean this part. If it over pressurizes the tank it will cause a rich oil condition also.

I really appreciate the advice, thank u so much for going out of your way and including the part #. I have just been a Jon boat fishing guy all my life and now I got a good boat. I really appreciate the help, thank u!
 
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