Great project boat.Don't be afraid to drill a 1/4 in. hole in the keel to allow water to drain out.This is a fairly common problem as many of these old beauties have sat in storage for years.A small hole is a very easy / cheap patch. Water freezing and expanding can lead to a much more serious problem than a 1/4 in hole. I drilled 5 holes in #50's keel to drain all the water out.....easy fix.Leave them open as you do your restoration so that any 'new water' can drain.Patch near the end when you are ready for bottom paint. You'll find LOTS of info here...on all topics.Use the 'search button'...if that doesn't work...post any question.Have fun!!