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I thought I had a leaking valve cover gasket on my 86 f150 (4.9L). after changing the gasket i discovered that it wasnt were the oil was coming from. When me truck was warm i noticed the oil was leaking around the bolts that hold the head on. The oil was bubbling out of this area.What could cause this? Has anyone had a similar problem? What other damage could this have caused?
I would have a look at the PCV valve. If it is bad it will cause oil to come out somewhere. It may be that the head bolts just look like they are leaking and the valve cover really is.
The PCV valve vents the case, so if it is plugged the pressure has to go somewhere, and it can force out oil with it. On my Rambler it comes out of the dipstick fill tube! Pull the thing out an see what happens. See if it sucks air.
Jay in Reno