I am telling you when my old Yamaha was doing that it was the cover coming lose on the piston, I had to keep tightening it, then the O ring on that same cover went, the oil was washed away in the water so you could never see the oil leaking.
I found it by lifting the motor up and down in the water , the oil made a rainbow, I just kept looking till i found it.
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1986 V20 
Old Fishermen never die, we just SMELL that way!!
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