Big trouble? Oil coming from exhaust housing..

[85shelbycharger]

Was driving my '86 Turbo Z home the other day and it started running really rough. Did a visual inspection before getting disgusted, and noticed a decent amoutn of oil surrounding the area where the downpipe bolts to the turbo exhaust housing. My initial thought was "oh crap...oil seal in the turbo went out". Think this is a safe assumption? Thanks in advance.

[trannybuster]

Turbo seals normally dont make it run rough, unless its outta oil...with seals itll just smoke like chain smoker..

[turbovanman²]

Pull the plugs, take pics and post up. Do a compression test.

[85shelbycharger]

After work today, I'll hopefully have some time to get working on this thing. Thanks for the tips so far.