Gushing water near grease cup

[Mattlurzo]

Here we go again. I'm very new to this engine and engines in general, but I'm trying to learn. So far everyone here has been so helpful. Thank you!

I went out yesterday and after reinstalling the thermostat, replacing the spark plugs, etc, the engine started right up. After checking for leaks, I found this

There is a steady stream of water coming from just forward of the grease cup. I've attached a picture from the video I took. You might be able to view the video here:
https://drive.google.com/file/d/1f6M...ew?usp=sharing

Any insights and help would be very appreciated!

Thanks!
Matt

1975 Sabre 28