You know, I actually tried that a couple of years ago but it leaked after a short time and when I took it apart the silicone was loose like a limp noodle.
It was the clear type though - maybe I should use the good stuff for better results. Same probably goes for booze. .
Try using Permatex Ultra Black after cleaning the area throroughly as suggested above. Ultra Black is more resistant to oil degradation.
Bill