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I have a Palmer P-60 in an Islander 30. The engine runs great however I noticed some smoke coming from the oil dipstick / breather cap. This is only visible when I run the boat speed up over 4 knots. I googled this problem and found your website. Apparently this is not an uncommon problem. If I understood an earlier response to a similar question it could be something to do with the flame arrester and a slotted pipe mounted in front of the flame arrestor. Is this correct and if so are there any pictures or diagrams available showing this arrangement? I also noticed that at the higher RPM there was a small amount of oil with some bubbles leaking from around one of the head bolts. Again, it did not do this until I increased the RPMs. I don't have a tack but I would guess I an at around 1800 RPM when all of this occurs. The leak around the head bolt is probably due to a bad head gasket.
I would appreciate any help you could share on this problem.