Scenerio:
Engines running great with full power. After a short time oil starts "oozing" out dipstick tube. Why?

blowby , or poor crank ventalation , check youre breathers or pcv valve see if operating properly

Possibly too much oil or bad windage. Maybe the crank is whipping it up and pushing it out the tube.

Motor has good compression. It was recently freshend up. The line checked. I will replace the valve.

I changed oil and made sure level was correct. As far as the crank.....It's been running fine for several years.

motor will can still have good cranking compression and still have enough blowby to push dipstick out , best bet is to run a leakdown and go from there , on my 598 my ring gap is a little loose and i get a little dipstick pressure / blowby / but its better loose than sticking a piston . rob

Do you have vents coming off your valve covers????

is it a blower motor?

Yes vents off the valve covers.
Yes it's a blower motor....merc. 575.

575 in a 24cs? That has got too be a screamer.