The early shape boats like mine and Gary's didn't have a hole drilled, simply drill a small hole high up on the transom ( perhaps behind the top pintle ), fill with glue of some kind and then drill with a smaller hole ( stops water getting into the foam ),very little water gets in.

Good fun boats the Stealth and you should have plenty of fun times <img src="http://www.catsailor.com/forums/images/graemlins/cool.gif" alt="" />.