Congrats on scoring a nice engine.
Before scrapping the old one, might be worth taking a few compression tests to pinpoint the problem. It might just be a problem with the oil cooler and the intermix was occurring there.
And now is the best time to easily get to those 'while you're in there' parts. Believe me, having gone the rebuild route, I know it can be expensive to start throwing more $$$ at unbudgeted parts but you'll never have a better chance to get to them like now. Things like radiator hoses, engine mounts, clutch, plugs, coils, fuel injectors, etc.
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GPRPCA Chief Driving Instructor
2008 Boxster S Limited Edition #005
2008 Cayman S Sport - Signal Green
1989 928 S4 5 spd - black
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