I would bet that you've blown one of the oil galley plugs out at the front of the block. You'll have to pull the front cover to see for sure, but its very likely that's the problem. Seen it happen many, many times. That's why I always have my oil galley plugs tapped for NPT plugs rather than using the stock freeze plug style.
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Jeff Chambers
1990 Mustang GT 10.032 Seconds / 137.5 MPH
14-time Street Warrior World Record Setter
CRT Performance
2001 Tropic Green Mustang GT - 12.181 / 113.2 MPH
2002 Ford F-250 Crew Cab 7.3l Power Stroke - 17.41@77.2
"There's nothing boring about a small block automatic shifting gears at 9400 rpm!"
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