I'm wondering whether what I called red oxide is in fact red lead paint as being over 30 years old there was probably red lead paint being used in ' the good old days ' . Funny you should mention Comastic Tim as looking through my 'log' I have recorded that I used Comastic in 1999 with a product called Convertex or similar name on the rust . I suspect over the years I have used a combination of bitumen and coal tar I'll do as Pete suggested and contact the manufacturers of Sealex B130 .
I've got a print out of the technical properties , surface preparation etc for Sealex B130 and I must say I'm bamboozled with all the figures Specific Gravity 1.06 typical , Volume Solids 44% typical , Recommended film thickness 200-300 microns wet , Theoretical spreading rate 3.3-5.0m/litres , flashpoint 33 degrees centigrade , VOC 448 g/l . Far too much information for me as all I want is some paint to stop my hull rusting .
Thanks for your replies I must say this is a brilliant Forum I wish I'd found it earlier .