fuel out exhaust, unstable rpms

[walkaboute]

2000 250 hp ox-66, after starting motor rpms @1000 till warm up and then 600, shortly there after fuel appears water, not a flood of it but appears as droplets on water, If I idle up fuel seems to go away but then motor will begin to rev and die, rev and die etc.. running the boat the same problem occurs..am able to use throttle to try to compensate but extremely difficult since this is starboard of pair... I have changed plugs O2 sensor and checked compression...somewhat ruled out bad fuel becuase port runs fine on same tank...

[boats.net]

It needs to checked for air leaks possible bottom crankshaft seal bad. The ignition system also needs to be checked, it could be losing fire.