It's located behind the rear wheel on the outside on some models, and on the inside of the machine on the crossover connection on others. On my machine the hydraulic oil drain is nearby so loosen the suspected plug but be prepared to put it back in if oil is there, although you may find water in both locations so a little draining will be good.
That was it. Thank you VERY much.
Last night, before I saw your posting, I siphoned 5.5 gals of brown crap from the gas tank, and filled it with 5 gals of fresh.
However, when I started her up this morning and there seemed to be even more water and brown sludge. I went through 2 more filters, clogging each up in seconds. In frustration I opened what I thought you said was the fuel drain and got gas-smeling water. I let that drain until I got clear clean gas even when I rocked the Bobcat, put my last fuel filter on and finally got nice clean gas through. It's clear now, and running great.
Good ending for this story