At 99p it may be worth it,
but start pulling these old motors apart and you may just find it's held together with white dust!
Reading between the lines a bit,
but it sounds like this motor has been stood for a while, ask yourself why?
You could end up throwing good money after bad!
I know you say that your budget is small but back to what I said in a previous post
"buy the best motor you can afford because you cant push a boat to the side of the road"
if you want to improve you budget split the motor you've got and sell the parts on ebay, that way you wont get someone after you when they cant get it running
just a word of caution that’s all,
hey it maybe the best motor you'll ever have