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Oil leak on Chrysler M383

Peter Devil Ears

Regular Contributor
Hi, there is oil coming out from under the rubber cover, which is supposed to seal the hole for timing inspection above the flywheel. This rubber cover is cracked and perished so no surprise, however, is oil then normally going to leak from here or do I have a problem? Such as leaking crankshaft seal etc? Not sure if engine oil or velvet drive oil.

1969 Chrysler M383, with velvet drive.
 
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