Wow! This same thing happened to one of my skis while it was sat up for months after we had that tiny little storm called IAN. My island got wacked so they were not a priority for some time afterwards. When I finally got around to even thinking about using them again the first thing I did was remove the plugs and turn them over. When one of them "the mag side" started spewing oil out of the cylinder I was like WTF? After imagining all sorts of awful things that might have caused it, I realized that it must have been a slow gravity weep or maybe pressurization of the oil system by the heat sitting in the sun and then through the pump into the cylinder. It must have just accumulated over time. Freaked me out good though! I may be wrong as I frequently am, but I no longer store my skis nose up. I used to prop up the trailer so the wells wouldn't fill with water. I now keep them level or slightly nose down and keep them covered. I figure that this may also keep the pressure off of the oil tank outlet gasket and keep it from weeping as well. When I redid my skis, I bought new oil tanks and seals, so I haven't had the big oil leaking mess that I had had before. As far as an oil shut-off valve....I dunno about that one, my luck is that I would forget and blow up my ski. Better to lose a little oil here or there.