HELP!!!! I am a newby to boating, jus tbought my first boat about three weeks ago. My outboard is a 1963 75 hp johnson. When I bought the boat I was curious as to why there was a hole on the motor where I could see the inside and observe the shaft. Yesterday when I trailered the boat and got it out of the water. I went to tilt the motor up and noticed that all the pee hole in the lower unit were releasing what looked like water mixed with oil. Is this hole letting water in? the hole is about three inches above the where the eight bolts (or is it six) are located to drop the lower unit and on the same side as the drain holes for the lower unit are. The hole is smooth and not threaded and is about one half inch in diameter. What is it and what can I do t fix it? 