Had about the same thing with a 89 GMC pickup with a 5.7L engine. I put a oil pressure gauge on the oil pressure line and confirmed good pressure. Turned out to be a bad sending unit. I always try to verify the problem first and then take the least expensive and easiest option first. If I had to guess, I would bet it is your oil pickup or oil pump but check the pressure first.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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