Help!!

[Onearmedman]

I just bough ta 1978 Bahama trihull with a 351w i/o. The previous owners stated that the stock intake had cracked and they had lost interest in further spending on the engine.

I put a edelbrock performer aluminum intake on it, plugged the excess holes and put the motor back together.

5 min of running ad I had water in the oil. (I had checked when I bought it, so I'm assuming they changed it before I came to see boat, as it was very clean).

I compression tested and all cylinders are between 105 and 115psi.

I did notice 2 brass petcocks/valves at the end of the exaust manifolds that appeared to be open all the way.

Any idea's or things that I should look into?

 

[bondo]

Ayuh,.... Welcome Aboard,..... Unfortunately, No good news, only Bad,....

You were hoodwinked, 'n bought a barge with a frozen busted block,....

On the dim, bright side,...
A Long Block from a Ford truck, from the late '70s to somewhere in the '90s I believe, will swap in, usin' the marine accessories off yer motor,....

105/ 115 psi compression it would be a rebuildable core motor, but bein' frozen, 'n busted, the Long Block is an anchor at best,....