wheel bearing grease - oil soluble?

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Is wheel bearing grease oil soluble? I am doing a transmission pan drop and the new gasket says to coat with "oil soluble grease" I have some kendall SHP wheel bearing grease and was going to use that. Should it work?
 
"oil soluble grease"
unless you use some exotic grease base like a silicone ANY mineral oil based grease is "OIL" soluble since they are made from thickened or gelled "OIL"
bruce
 
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