Ah, Chops, I see. And I think I have an idea that I used it many, many years ago, even if under a different name. The stuff I used came in a tin with a small brush attached to the cap. It was like a thick varnish, and was usually used in conjunction with paper gaskets. I don't think it is used much, any more, displaced by the silicone based sealants that appeared in the '70s and that often did not require the paper gasket. But I may be wrong. It would certainly be a "period" solution for a TD124!
I remember using it on the mating surfaces of gearboxes, with some success although a few drops seeped through afterwards, and trying to make the primary drive of an AJS twin oil-tight, where I failed miserably.
What do you use it on in your workshop?