Boxster Overheat and Coolant Waterfall

[aaf006]

Hi Everyone!

I was driving to work the other day and the temperature gauge greatly rose followed by flashing on the dash. I pulled over to see what was going on and there was a waterfall of coolant on the rear passenger side right next to the tire. I popped the trunk, the cap nice and tight and unscrewed it. Steam started shooting out along with boiling hot coolant. Thinking it was the thermostat, I replaced that and changed out my coolant with 5 new gallons of Porsche coolant. I am still having the same problem.

Any other ideas?