Just purchased 1957 Mercury Mark 55 short shaft. It ran great (as previous owner said it would) on my test run of it. Today I wanted to check the lower lube to see if any water got in. I removed what thought to be the vent hole (6" above the prop level) and a few drops of water came out - nothing else. I then removed the drain plug (just under the prop level at front of lower unit), and nothing came out. Prev owner said he always took it to a marine place to have lubed so he was no help, and his marine place has moved. <br /><br />Am I looking in right place (both screws had wide heads, short threads, definitely plugs of some sort)? Should oil come out or does this unit use something else? I inserted small screwdriver in drain hole until it touched something, and pulled it out. It had something the consistency of grease on it - white and black. Do some motors (or marine mechanics) use grease instead of oil? I have a manual on order from OldMerc but in the meantime, any assistance would be appreciated.