If it’s unburned motor oil and coming out of the exhaust snout, check the small drain hole right in front of the prop and underneath the A/V plate. If it is plugged, the oil can pool up inside the gearcase housing during storage and run out when the motor is tilted over. As stated, if it’s coming out the screened water intake, suspect a leaky driveshaft seal.
Something else to think about is since these motors run on a 16/1 fuel mix and tend to run cold by not having a thermostat in the system, an oily sludge tends to build up in the exhaust housing, especially if the motor is used mostly for trolling, and then slowly drips out while the motor is stored on a rack. This is the stuff which makes a mess on the floor.
Here’s a diagram of your ’55 CD showing the location of that elusive drain hole.
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