runnin out of oil

[Ultra21]

Question for the gear heads. I was out at Mojave this weekend and the boat ran great until Sunday. It cut out on me at around 4300 rpm and when I opened the hatch it was full of oil. I toed back and filled it to see where it was leaking from but it looked like it was all over the rear (it's a 454 with jet). It idled fine but at about 2k rpm it started knocking. The strange thing was that I have dual external oil filters and when I put my hand on them they were cool. The dip stick showed full and was hot and I had 55 lbs of pressure at idle and 65 at 2000 rpm. I'm thinking the rear main seal blew and I spun a bearing but can't explain why the filters would be so cool. Pressure but no flow?? Any ideas?
Thanks!

[Infomaniac]

Put oil back in the engine
Pull the distributor
Turn the pump with a pre-lube tool or equavilent to find the leak.
Hope the knock was not the engine.

[GofastRacer]

Ok, do what Info says first. Also cut those filters open and see what's in there, if they are full of garbage that could explain why they were cool because you wern't being able to flow any oil through them. As far as oil pressure goes, if you are picking it up before the filters, then you would still have a reading. The best place to tap a guage in is at one of the oil galley plugs along the pan rail after the oil passes through the filter!..Sure hope that ain't the problem!.... frown

[28ss]

do you have the bypass valve in block?

[Infomaniac]

I will have to agree with GFR. The filters are probably full and bypassing. Cutting them and having a look will be the easiest theng to do first.

[Ultra21]

It seems that both filters would have to be clogged since they were both cool. Where is the bypass? I thought it was actually in the filter(?) I'm going to pull the filters and open them up, then pull the motor. It's a familiar knock and the boat's a 94 so wouldn't hurt to go through it. Out of curiousity, I put Mobile 1 in it this past summer for the first time (10W30). That wouldn't have anything to do with it would it? I know there've been a lot of oil discussions on this board and I always leave more confused than when I came in.
Thanks for the suggestions!