89 2.3 cobra omc

[Eastcoast339]

Just figured I would throw this in here see where is goes from peoples past experiences. Bought a 1992 invader 2.3l cobra omc outdrive the motor has recently been timed running great in the driveway ! Bring it to lake test it out for about 5 minutes came back in the check everything over and there is water mixed with the oil.
motor was compression tested (passed)
leakdown tested (passed)
manifold pressure tested (passed)
now the riser looks to be in amazing shape but cannot be pressure tested. Purchased a new one in Hope's of it being the problem.
noticed when I split the exhaust that the exhaust flapper was just sitting in the exhaust could that be the problem I am having? Replacing all the parts and going to lake test it again just curious if anyone has had any similar problems/ fix
thanks.

 

[Scott Danforth]

Pressure test the cooling water jacket. Most likely either a cracked block and you need a new motor or the exhaust manifold/elbow gasket surface has rusted and you need a new manifold and elbow