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I have a 1997 Johnson 115 ocean runner that is showing exhaust leakage around the lower unit seam. Is this a big problem and if so how difficult is it to change out the gasket?
It is not a big problem. There is no gasket. If you really wanted to fix it you would need to drop the lower unit, carefully clean up both mating surfaces and maybe apply some sealant to the joint before reassembly.