Hi Tim. I do not think your problem is terminal. Is the oil dripping down
onto the water pump? If yes, suspect the 'front oil seal'. I THINK this
would mean removing the fan assembly to gain access - something I have not
done as I am a bit of a novice, but when my 240 was blowing from the valve
gasket it was mentioned as a possible point of failure. I am happy to say
that mine was caused by the PCV & oil trap. If it is dripping onto the water
pump it is a good indication that the front seal has gone. For info there is
a rear seal as well which has a similar 'life span', but due to its
location, if is letting by it is not so easily noticed. This seal is often
replaced (as in my case) when re-placing the clutch - as it only adds a
small amount to the overall cost (less if you can change it yourself!). Good
Luck & I hope this helps you.
Kind Regards Paul.C