Duffer:It is most likely the rear main seal leaking, so replacing the seal is the fix.

John - "The Hoosier Hurricane"

Hoosier, 

You are probably right Hoosier and that would explain why it continues to drip long after I turn the engine off.  Thanks, Alan

Mine was coming from the back of the valley pan running down the back of the engine, because i needed to but a new cork 

Alan:A leak at the rear of the engine could be flung into the far reaches of the bellhousing by the flywheel, and then slowly run to the bottom of the housing and drip on the floor.  I would guess the bottom of the car is also oily from oil drips being blown back while you are driving.

John - "The Hoosier Hurricane"

I am loosing engine oil not transmission fluid.  Alan

Alan: It should be fairly easy to determine if the oil is coming from the engine or transmission, by simply wiping up some of the oil with a clean lite colored rag. Transmission oil will be thinner & bright colored as opposed to darker heavier engine oil.     


Paul

Would a rear main seal leak be expected to continue dripping oil days or even weeks after last turning the engine off?  I would think not but I am no expert mechanic.  I have a drip which seems to be coming out from the automatic transmission cooling vent on my 256 engine.  I assumed that the leak must be coming from the rear main but the dripping continues long after the engine is turned off.  What gives?  Alan S. Freeman