I have a 67 Galaxie 390 4 speed car that I am putting together.The engine is a 71 390 out of a 1\2 ton pickup and was running when I got it. I pulled the engine apart,took the block and heads to the machine shop.The block and heads were pressure tested,cleaned,decked and the block bored and honed.The engine is relatively stock-port work.comp 280H, performer RPM,Hooker super comps.CR is 10.6-1.The engine has about 3 hours on it at this point.Yesterday I ran it 30 minutes at 1500 to 2000 rpm to get it hot and drained the oil-this was the third oil change since I built the engine.I have water in the oil.I drained the engine,washed it out and,thinking I might have a bad intake seal changed the intake gaskets.I saw no evidence of leakage on the old gaskets.Put the engine back together with fresh oil and filter,ran it 10 minutes and drained it.Lots of water.No sign of water in any cylinder.I pressure tested the cooling system and it loses pressure but slowly and I cant tell where.Any suggestions? I will pull the engine tomorrow and take it apart in any case but wtf?