Mercury 15 HP 4-Stroke water in oil

[mills]

I have a salvaged 2006 Mercury 15 HP 4-Stroke Outboard. It is a victim of Hurricane Ian. Was under water for 1-2 months?? Went through the usual save the motor stuff. Has 115 PSI compression on a warm engine. Good spark. Starts right up buttttttt water is getting into the oil. Drained and replaced the oil 2X and then started it up. Ran pretty good for a short time. Saw that water was going into the oil. I dropped the lower unit (and drained the oil in the engine) and pumped water through the cooling system using a fountain pump and water was getting into the oil chaamber. Can I save it or is it a lost cause??

 

[mills]

I was hoping that someone could gived me some insight here??