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Love that leak below the crankshaft. Seems like a gamble to me.
A) Could be rear main seal, easy to fix since the engine is out, and a sleeve is readily available from Ford with the seal.
B) Also, note that the flywheel bolts go right through the end of the crankshaft and need to be covered with sealant on installation. Meaning if the bolts are loose, or removed, and the engine tilted back.... oil will leak right out. The leak looks fresh to me, and at a funny angle... similar to the angle the engine is tilted at while hanging there.
My money is on B)
I'd say its worth it if you're looking for a spare engine.
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