Re: 94 evinrude 112hp mysterious black fluid leaking
My mistake, I dont recall reading the added part about there definately being water in the lower unit. Could you post a pic of the lu? You may have water intrusion, along with a normal carbon leak.
Start by changing the oil with full synthetic along with new gaskets on the drain and vent screws, as they are only good for a 1 time use. This is a usual spot for water intrusion. Take the boat for a rip, then remove the drain screw. Water is heavier than oil, and will sit at the bottom of the gearcase. If the water is no longer present, you are good to go If it is still present, and the oil looks milky white, you will either need to pressure test the lu to find the breach, or simply re seal the entire lu.