The 2 HP lower unit has no plate , yes they used the 2 HP lower unit in 73.-----But there is a kit to convert that simple pump to a more expensive set-up.
Little bit of dish soap in the barrel and issue is gone.----Oil out the exhaust is part of the nature of a 2 stroke engine.-----Some fuel / oil goes right through the motor and is wasted !!!----A much mis-understood concept !
Motor cowling makes it a 76 model I think.---Motor will run / idle all day with 40:1 mix and do no harm.----Just another example of how the concept of 2 strokes and oil in gasoline is mis-understood.