It seems to be a bit more than one little milk spot - he said with the spark plug out, and water connected (presumably to the flush port), water is gushing out the spark plug hole.
See full version: Oil milky when draining outboard motor
It seems to be a bit more than one little milk spot - he said with the spark plug out, and water connected (presumably to the flush port), water is gushing out the spark plug hole.
I dont think we can say any more - and speculating gains us nothing. At the least the top end needs to be pulled down for further investigation, then the extent of the problem will likely be revealed.
To the OP - if you search this board and others, you will find the occasional case of something similar. Dont lose sight of the fact that its now an 11 year old motor. Not sure if you have owned it since new, if not, you never know how well the PO maintained it.
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If you have been going slow a lot you will get a little oily residue buildup in the idle port (the small exhaust port above the waterline). That can run down inside the leg and put a little sheen on the water. more
If it is leaking in the power head area you will usually see some around the bottom well of the motor case where it connects to the leg. Staple a wad of paper towel to a stick and probe around in there a little to see if you find oil. You may find a little smudge here and there but it shouldn't be enough to wet the towel. When I was trying to figure out if it was just an oil spill or a real leak, I sprayed it with a little simple green and rinsed it out with fresh water in the driveway, then checked again after a few trips out.
Mine was just residual oil from a spill (changing the filter) more
The other thing you should check if it is out of the water is the foot oil. You can get a little leak there but, if so it will usually ingest some water (milky oil) [links]