I have a 2007 E-tec 115hp outboard. It has been a great motor. Of late, I have been having intermittent cooling issues. I did find that most of the problem was corrected when I changed the water pump/impeller with a new kit. A good flush of the cooling hoses took care of the rest. But, while doing routine maintenance I noticed water leaking from the side of the exhaust housing while the motor was running. I tried to load a 7 second video to show the exact location and how much water was coming out, but I could not get it to load. Nor could I get a photo to load. So, I will explain the exact location. The leak is from both sides of the lower front of the exhaust housing, just above where the lower unit separates from the housing. Looking at a parts diagram, the area where it is leaking is called the lower mount (part # 5005694). This part has a cover with 4 bolts that holds the cover in place over this part. Water is coming from this area. I have checked for cracks or broken hoses, etc., but can find none. I have worked on my motors off and on over the years,but am by no means an expert. I'm guessing the water I see leaking is from the cooling of the exhaust.... maybe.