QUOTE(914mikee100 @ Nov 10 2014, 10:28 AM)

This looks like oil and water whipped together. What is it doing in my oil filler neck on an air-cooled engine? Do I have a condensation issue somewhere? Has anyone encountered this before? It is a 3.6 993 engine with 914-6 oil tank.
I have the same thing on my 993 engine if i let it sit for a while. It's condensation from moisture in the oil.
Do you have a vent to a catch can on your filler neck? I noticed that the bottom of the can fills up with a water/oil mix after a while which seems to evaporate back into the filler neck and cause even more sludge.
I try to get the engine fully warm at least once a week, keep the catch can empty, change the oil on a regular basis and clean off any sludge with a disposable shop towel.