2000 GTX RFI oil leaking into hull only when running

[kmarts]

I got a buddy who dropped off his 2000 GTX RFI (787) for me to change a battery.

Did that, started it up... Then i see oil starting to show up in the bottom of the hull while it's idling.
I haven't siphoned it yet, but it's alot.

Everything i read says the oil tank is a common leaking point. But in this case it's only happening while running.
I haven't had time to dive deeper into it but hoping someone has experienced this before and can point me where to look.

Since it only happens when running, I'm assuming it's related to the oil pump?

I've been winterizing this for him since he bought it, this is a new problem.
He's already had it out a couple times this season, as far as I'm aware this just started.

 

[kmarts]

So I had a moment to siphon out the hull and it looks like mostly water. It's separating in the oil extractor right now but it's looking like %95 water.

So now the question is, where would water be spewing from that I can hardly see when the engine is running?

 

[burtshaver2021]

can you take it for a ride with the seat off? I normally do this first ride every spring. Not a big ride, just 20 or 30 seconds. For the oil leak, clean the hull up all nice and line possible leak spots with paper towels. Under the oil tank, beneath the oil pump, around oil lines, etc.

 

[kmarts]

Unfortunately I can't take it for a ride at the moment.

As posted in my update I think theres two leaks but water is the big one. It's only when the engine is running and I have the hose attached. So leak has to be from the cooling system.

But I cannot see water coming from anywhere, a pool just starts appearing in the bottom of the hull so I think it's coming from under the engine?

 

[kmarts]

So running it a bit more on the trailer, the best i can gather this water is coming from the bottom of the engine.
Looking at the service manual there is this plate covering a cavity on the bottom of the motor. What is this?
It appears to have threaded connections on it and I assume this is part of the cooling system?
I'm betting this is what's leaking.

 

[mikidymac]

That is the case cooler for cooling the engine.