STARTED CUTTING OUT LAST TIME OUT, ALMOST TO POINT OF QUITTING. HAD TO IDLE BACK TO DOCK BECAUSE GIVING THROTTLE ONLY RESULTED IN MINIMAL RPM'S AND AN ALARM FROM THE IGNITION. THE ALARM WOULD SOUND ONLY WHEN THROTTLE APPLIED ABOVE IDLE. THE ALARM WAS INTERMITTANT BEEPING. HOPE I HAVEN'T FRIED IT. This is a 1995 Mercury 150hp 2.0L with carburators. Today I started it up again, and after only 1 minute of running the alarm sounded loudly. The alarm goes: beep, beep, beep, beep..........rapidly. The engine ran fine for the first minute then sounded like the timing was retarted or something. It would not rev very far following the alarm going off. Is this the oil reservoir alarm or heat sensor alarm? Checked the oil reservoir sensor and it passed; no continuity. Any ideas on what to check next as I'm clueless.