I'm a big noob to PWCs, im sorry but please hear me out.
I just bought a used 2005 Honda R-12 from a private owner and took it out for the first time. It has 52 hours on it and ran fine outside the water when cranked.
Began riding it and it idled fine, when first cranked up it didn't rev past 4k and slowly the rev limited raised to 5k and then 6k. Sooon i was riding about 30mph and after a few minutes decided to top it out after it had plenty of time to warm up.
As soon as i hit 40mph the oil light came on and a loud beeping sound began. It wouldn't let me rev past 3k and so I brought it in and parked it. Checked the oil the next morning and it was empty.
I filled it up and ran it outside of the water for some time checking everything. Soon after i checked the oil again and it was very bubbly and had a good amount of gas mixed in it.
I was worried now, everything seemed to be ok and the oil light hadn't come on again but i knew something seriously was wrong. I pulled the plugs and did a compression check. All cylinders had between 180-200 compression so Im guessing the motor is good.
Im not sure how gas is getting into the oil, any thoughts?