Hi. Welcome to the site. Most, if not all, your Wellcraft questions will be answered here..... (maybe not correctly, but answered).... 
Seriously though, there are some pretty smart people here with tons of experience with these boats. Anything from a 140 - 200 hp is a good sized engine for these boats, so you should be be fine with the engine you have, as long as it's ok. Cheers... 
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1987 V20 w/1987 150HP Yamaha on a Shoreland'r Trailer
1978 16.5 Airslot w/1996 120HP Force on a Four Winns trailer
1996 V21 w/1993 200HP Mercury on a Shoreline Trailer
All towed by a 5.7L Hemi Durango.
If God didn't have a purpose for us we wouldn't be here, so
Live simply, Love generously, Care deeply, Speak kindly.
(Leave the rest to God) 
Silence, in the face of evil, is itself evil. Not to speak is to speak, not to act is to act. God will not hold us guiltless.
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