Has anyone ever seen oil drip out of exhaust stud (200es)

[McQuade]

I rebuilt a motor and it appears as though a large amount of oil is dripping onto the starter off the exhaust bolt. It's above the head gasket and the valve gasket appears fine?

[Georgiabii]

What does the inside of the exhaust pipe look like? You may have issues internal. Smoking?

[McQuade]

As I said, I just rebuilt it. No it does not smoke.