Here's the info on Permatex #2
it's a "Slow-drying, non-hardening sealant designed for sealing cut gaskets and stamped parts. Allows for easy disassembly if required. Temperature range -65°F to 400°F (-54°C to 204°C); resists common shop fluids and fuels. Use where sealing is more important than adhesion."
Looks like tooth paste but black and a little stickier.

Grigg

•1951 GMC 250 in the Project Journals
•1948 Chevrolet 6400 - Detroit Diesel 4-53T - Roadranger 10 speed overdrive - 4 wheel disc brakes
•1952 Chevrolet 3800 pickup
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"First, get a clear notion of what you desire to accomplish, and then in all probability you will succeed in doing it..." -Henry Maudslay-