I used something similar to that stuff last month to patch a drainage pipe that had holes punched in it while a plumber was probing with a sharp instrument to find it.
They had wrapped a mess of some sticky fiber bound material around the hole to slow the leak but didn't stop it completely.
The stuff I used had a little patch square of ackum pucky to put in the hole and then the actual tape followed with a light weight non-sticky tape to hold the sticky stuff in place until it set. I finished the repair with quality 3M electrical tape with full satisfaction and no leaks or seepage.
2013 Voltage 3800, 2012 Chevy 3500 HD
2010 Yamaha V Star 950
2009 Yamaha Raider
Volunteering with Habitat for Humanity Caravanners
I regularly use this and have since I discovered it in 2006. black for cold, red for hot, and keep some with me for emergencies. Works great. I looks like the current version is all purpose for hot and cold.
TV - 2002 GMC Yukon XL 2500, 8.1 liter (496ci), 4L85e & positraction with 3.73 gears
TT - 2013 Dutchmen Aspen Trail 3130 QBS
Drinks of choice: woodford reserve, knob creek & any great bourbon-just about any of San Diego’s craft beer and Pabst Blue Ribbon