I think Grasshopper is right - it does look very much like a Monoperm motor. In that case 6 volts should be OK, seeing as how the Wotan isn't exactly a planing hull. I'd certainly replace the lousy wiring; the brown and blue leads stripped from some 13 Amp flex should do the trick. Colin Bishop's suggestion about connecting it to 6 volts and then testing it in the bath is a very good one. If this works OK then you might consider buying a 6 volts sealed lead-acid battery and charger. The Monoperm is a very economical motor and draws a low current, so you won't need a huge battery to get a decent sailing duration. 4Ah should be adequate.
As regards an electronic speed controller, the ACTion Condor 10 amp version is an excellent piece of kit and will cost you £26 ready-built. I'd personally remove the horrible Acoms servo and buy a cheap 2-channel radio (Futaba or HiTech) - preferably with only one servo (for steering). In my experience BEC - which stands for battery eliminator circuitry - is an unnecessary complication in a model this size and therefore something to be avoided. Use a separate battery supply for the receiver and servo, as supplied with the radio gear.
Finally I can heartily agree with the recommendation for Hugh Bright's book - excellent reference work!
Good luck!
CAD2