Oil Coming out of air intake on 2004 F50

[minerniner]

I bought a used 2005 carolina skiff with a Yamaha F50 about a year ago. Has been running great. starting can be tempremental from time to time on first start, but once warmed up - no problems. So I was running Monday after a successful fishing day and it starts dropping RPM. engine also felt a little sluggish. I pulled back the throttle, thought about it and thought lets see what happens if we go again. I do, it runs fine but a little sluggish - I usually run 5700- 5800 rpm when fishing with just me and I was only running 5500 (maybe it was the weight of the 3 I decided to keep for dinner - ha, ha). It goes for 3 or 4 minutes and then it starts dropping RPM again. Same idea as last time, start running again, same result after 3 or 4 minutes. about back to the ramp, so I decide it is time to head home. Before I do I tilt up the motor and some oil is dripping out. Take off the cowling and notice oil is dripping out of the air intake/filter area.

any ideas on why this is occurring? what is causing this to happen?

advice/help would be greatly appreciated.

[boats.net]

May be overfull of oil, check oil to see if has gas in it.