SG. If you aren't able/ don't want to tackle the issue now, I would consider drilling a hole very low on the keel to drain out any water that may be there. It'll prevent further damage. You can repair that easily when you do the rest. You could template the shape with thin plywood before doing any grinding to preserve the shape when fairing things off later. Depending on the seriousness of the problem you could do individual repairs to each area or do it all in one go. That will depend on your skill set and confidence too. I have an encapsulated keel and find it pretty problem free. The fellows at the Plastic Classics Forum are pretty handy and friendly and may be able to offer help as well. Best regards, David