oil in water

[pikechaser]

I have an I/O Merc, 135 hp, I notice oil or fluid in water near motor last year. , seems to be coming out of hole where water pumps out. Are seals gone, also my trim oil level goes down more each time i go out. Maybe this is fluid, any answers, thanks.

[BBK]

Your tilt/trim oil should not be going down, check the seals there. A little oil in the water is normal with older motors as not all the oil burns and it comes out the exhaust.