Might be worth a try to put some penetrating oil in it and let it soak for a while. If it wont free up then it is your new boat anchor :LOL2: but on a serious note it might not be worth messing with as it was run without oil it could have broken gears and other junk rusted solid in the housing. But hey if it will free up you could probably rebuild the housing for less than what you could buy an aftermarket rebuilt one for or you could sell the housing and put the $$$ towards a jet pump. But in all reality here if you can find an outboard parts yard ( they do exist my local mechanic has about everything from1960's -1990's ) you can probably find what you need in good shape for a decent price. I'd probably go and try to find the jet pump, if that is your ultimate goal for the motor, hey ask around, even put an add in the local paper, it's more than likely someone in your local area has was you want laying around in a shed, garage, or shop. I wish you good luck on whichever you may choose to do and I hope you are able to find the jet pump you want.