Running my engine today on the flusher to check out some gauges and heat up the oil prior to changing it. Everything seemed to be working Ok. Water temp was at about 160 when the thermostat opened and temp dropped back. Oil temp was not registering and it normally won't when not running hard. Oil pressure was normal. At some point I noticed that the exhaust water was aparrently mixed with oil. The engine did not seem to be running bad. After shutting it done I checked the dipstick, which I had done before starting the engine and there was no indication of water in the oil. The engine is a Mercruiser 502 with an external oil cooler. Any ideas would be greatly appreciated!

Problably have a leak in the oil cooler which is pumping oil into the water that goes out the exhaust.

I agree. Most definatly an oil cooler failure. The oil pressure is much higher than the oil press. so you won't see any water in the oil.

Lofty,
I am sure you just made a typo, you mean that the oil pressure is higher than the water pressure.

what he said

Thanks for the replies. It turned out to be operater error not mechanical. Started the engine a couple of weeks ago and shut it diwn because the temp gauge wasn't working and didn't want to ruin the engine. That was the first time it was run since being winterized. The pink antifreeze came out then clear water. We shut down before the thermostat opened. Yesterday we ran until the thermostat opened and thats when we saw the dark water. Thought about it all night and since the exhaust water tasted sweet figured it was antifreeze. Ran the engine again today and the water cleared up a little while after the thermostat opened.

Thanks

Doh...... I see that maybe I had a beer or two when I posted. Thanks for the correction.