Re: Oily Residue---please advise
Tough to even guess from your description. My guess is that what you are seeing on the bolts either dripped down from somewhere on the engine or is seeping from the transom itself. You need to check any and all lines that carry any kind of fluid in that area for leaks which would result in the fluid dripping down.<br /><br />If the fluid is seeping from the bolts that mount the engine to the transom, is brown in color and looks like water - that would be an indication of wood rot from the core of the transom. This can be serious. You did not indicate what kind of boat you have or how it is powered but worse case - big motor, small old boat, rot in the transom could lead to the engine tearing the transom off of the back of the boat.<br /><br />Hope for your sake it is a couple of drips from the motor which can be taken care of with a paper towel.