T&T: Advise on Packing

[Robert Pelton]

I have a 1979 Albin single screw with 120 Lehman.  My shaft packing is
leaking pretty fast (almost a steady stream even with nut tightened all
the way down.  I have some varying thickness wax covered pieces of rope
and a few green pieces as well.  I also have some green goop.  It was
all in a baggy marked "packing".  Can someone walk me through the
process of repacking this?
Thanks,
Bob