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new to the forum, 2011 242 launch.

Can anyone help on how to resolve this issue? I purchased this boat and the engine had been replaced like in kind. Fault had not happened previously. Mechanic states the code has to do with some O2 sensor issues. Though it was a heating issue as the thermostat was not working. Replaced the stat and still get the error code. When I get up to speed the error goes away and when dropping back to idle it pops back on. All oil pressure temps, exact look to be operating normal. Running 93 octane gas.