Oil leak... from where?

Okay. I got a new car this weekend. It's a 92 Daytona IROC Shelby w/the 2.5L Turbo!!!!!! The car had been sitting for appx 2 years. Got it home, put in a battery and got the car cranked. It ran kind of rough but evened out enough to make it around the neighborhood. Here are my observations: 1) there is a dark black soot all over the 4 spark plugs 2) there is some type of "T" rubber hose adapter broken off so that the pcv valve can't connect to the valve cover 3) the throttle body and the intake plenum are coated with oil 4) there is a small pool of oil in the opening of the turbo that leads to the throttle body.

My thoughts on this problem are that oil is making its way in through the turbo into the throttle body, then to the intake and ultimately into the combustion chamber causing the soot on the spark plugs. BTW, there is a new head on the car w/ less than 200 miles on it. Dipstick shows it's a half quart low. When I initially cranked the car (after sitting for two years) a big black cloud of smoke came out the tail pipe, then lightened up to a light gray/white after idling for a few minutes and then went away.

So now I look to you guys for assistance, what do you think?

Oh on a side note I have a brand spankin' new Garret T4, should I go ahead and install that when I remove the plenum to clean all the oil out of it and is there anything else I would need to do/add if/when I put the Garret on?

Thanks Jason

well all turbo cars will spit some oil out of the turbo, thats when you buy a catch can. as for the oil idk...

You can get the elbow that ataches the PCV valve to the valve cover from the dealer. About 10 bucks the last time I bought one. How many miles are on the car? Is there any play in the turbo. Any evidence of the inducer fins hitting the housing? If there isn't a big cloud of smoke coming out the back I'd run it for a while. Things may be gummed up from sitting and it may clear out on it's own. Or else it may get worse. If it gets worse then you'll have to replace the turbo. If your going to pull the head to clean the intake then I'd replace or rebuild the turbo while it's easy to get to.

I'd say most of the oil on the intake is from the broken PCV valve rubber piece. Replace that part with a new one and power wash the engine and it should be good to go.