Blisters on Skeg

[Wapici]

Sorry my simple english I'am one year owner of a 1997 Beneteau 321. Now after 5 month out of the water I made antifouling new. First I took all the old antifouling away. After this terrible procedere I found some small blisters on the skeg near the propeller. Now I'am afraid: is this the beginning of osmosis or is this a problem only of the skeg?
Is the skeg part of the hull or did Beneteau fixed this part later. All other regions of the underwatership is looking fine.

 

[sepeteus]

Hello mate. I have similar question. On my Ben First 47.7, just above where the skeg joins into hull, there is bit of a liquid coming out. I just took all antifouling off and put new epoxy coating on and this particular spot above/next to skeg did not cure. I exposed the fiberglass and sure enough there is a wet patch and it probably come from the skeg. I am going to grind off all the fiberglass off the skeg and try to fix it that way. The rest of the hull was good and 10 years haven't done much bad to it. Any ideas anybody else?