Grey sludge in in flywheel housing help!

[waterboymvp]

I keep getting a grey sludge in the flywheel housing, it looks like what comes out of the exhuast. Does anybody know why this is happening?

 

[Seadoopilot]

that ( as discribed) comes from water getting in the seams and some oil and fuel mixture coming in the shaft seal ,
take apart and reseal