The chunks were very tiny and went through the cheesecloth, and I don't have a way to distill the oil so I gave up on adding that gunk to the plastic. The next paragraph tells you where I used it. I don't have water in the mix.
I do mix whatever I like the smell of with unscented petroleum jelly to make my own version of "Smelly Jelly". That seems to work very well and doesn't cost a fortune like the commercial products. Using this method, I get an anchovy gel that actually smells like anchovies. This is probably what you want to do. BTW, the Pro Cure oils seem to work as well as what I made.
I'm sure glad there are some saltwater fishermen here.
mattlures:
I'm with you. The scent in the plastic doesn't seem to be effective. Adding it to the outside of the lure is a little messy, but seems to work very well. I actually have some uni-butter, but haven't had a chance to use it yet. I got it for halibuts, however I suspect that it is only good for bass.