Just bought a 1999 ski Supra with a Indmar 8 cylinder fuel injected engine. Runs great, sounds great doesnt miss but expels a large amount of fuel into the water unburned. There is also a milky white substance being discharged that looks like it may be oil most noticeable on startup after which it settles down but will reappear if I rev the engine up in neutral. I checked the plugs and they looked perfect but changed them anyways hoping....but no difference. Have run fuel injector cleaner thru it but no change. It burns way to much fuel...so much you can smell it in the water.
The oil pressure gauge is reading high up to 80 psi but I suspect that may be a sender issue...however maybe not?
Boat starts immediately and runs great in all phases top speed 42 mph.
I still havnt done a compression check but thats next. The boat has 180 hours on it and has had proper winterization over the years.

Any ideas would be greatly appreciated. I cant find a thing about similar issues anywhere on the net!

Thanks for any response.