It is leaking at rest. When not running I keep it locked in the up
position and out of the water. When I put the motor down and into the
water I have found a small amount of oil comes out of a timy breather
hole in the upper case of the motor. I haven't had the motor in the
down position long enough to determine whether it also leaks when running.

My plan is to identify where the at-rest leak(s) is/are occuring, repair
it/them and then look for evidence of running leaks. It'll be slow, but
I know I'm making progress.
Thanks,
Mike

rhys wrote:

Interesting. Does it leak at rest or only when under load? What I am
getting at is does the rising engine heat cause a gasket somewhere to
fail, or is it the rising oil pressure that forces oil past a hole or
gasket or crack or something that "closes" or reseats itself when the
motor cools down?

I'm glad you are getting closer to the ultimate problem, which isn't
fuel, it seems. Believe it or not, that's a good thing G

R.