I decided to mount the wet compass on the removable panel atop the instrument panel. The holes were cut some time ago, so I was really waiting for the panel to be painted before installation.
1) Put heat shrink tubing over lamp wires in bottom of compass to protect them from the edge of the panel. 2) Slipped wires through panel. 3) Slipped mounting screws through panel. 4) Placed nuts on screws and tightened. 5) Installed connector on end of lamp wires for later connection to electrical system. 6) Used heat gun to shrink protective tubing.