3000 - weird oil leak

I've just started working on this beast, and I've also just found this forum. This Ford (and the Farmall I've posted about) are 90 minutes away from me at our camp where there is no internet access.

I've got what looks like a cotter pin sticking out of the bottom of the engine on my tractor (3 cyl diesel) which has a constant oil drip when running. The head of the pin is hanging loosely and just wobbles around in a hole (not a puncture or fracture - the hole looks like it's supposed to be there) and makes a nice ugly puddle when I park it or let it idle.
 
The hole is on the bottom of the bell housing of the transmission, not the engine, but it is close to the juncture whee the trans housing meets the engine. That area of the bell housing is where the flywheel and clutch are located and it is supposed to be dry in there. Sometimes something at the rear of the engine or the front of the transmission leaks into that area, and so they designed it with a drip hole to allow any oil that does get in there to leak out so the clutch doesn't get contaminated by the oil. The cotter pin is supposed to be looses in the hole and should jiggle around from the vibrations as the tractor is running to keep the hole clear from dirt and mud that might otherwise clog the hole.
 

Very generally speaking, and from my own experience, engine oil is black and transmission oil is light yellow, so unless you have already changed either you can tell pretty well which it is. You can verify it by draining a little off from each sump for comparison and by checking the oil level in the motor since you indicate that it is a fairly significant leak.
 
(quoted from post at 07:20:03 06/18/14) The hole is on the bottom of the bell housing of the transmission [...] they designed it with a drip hole to allow any oil that does get in there to leak out so the clutch doesn't get contaminated by the oil. The cotter pin is supposed to be looses in the hole and should jiggle around from the vibrations as the tractor is running to keep the hole clear from dirt and mud that might otherwise clog the hole.

That is absolutely awesome. I'm brand new to the tractor world (can you tell?) and little ingenuities like that are so cool to me.

Now - as others have suggested - I've got an oil leak. It is definitely black, so it's engine oil, not transmission (and we're frequently adding engine oil to it). Is this something that can be cured with some Lucas (or similar) or am I looking at buying a gallon of oil every fortnight until I can turn some wrenches?
 
If it's engine oil then it could be leaking at the rear main seal or at either of the two welch plugs (freeze plugs) on the rear of the engine. In either case you will need to split the tractor between the engine and transmission to fix it, and at that point while you have it split you should do all of those plus the transmission input shaft seal even if it's only leaking at one spot, as you don't want to have to split the tractor again any time soon and replacing all of them at once is relatively cheap and easy once you have it split.

Using a stop-leak type product in your oil might be a short term fix for the leak, but it might also cause other oil passages in the engine to get stopped up, as it can't tell which small openings it should stop oil from flowing through and which ones it shouldn't. I have only ever used those types of products when I was younger and was trying to keep a junker car running long enough to save up my money for another car. In more recent years I have just dealt with a leak and kept it topped off until I could afford the time and money to fix it right.
 

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