Does the car burn oil, as in, blue smoke out the tail pipes? If not, then its probably coming from the valve cover, or like midnightrider said, could be some that spilled a little while filling. Also, if you had ring, or valve guides/seals to leak that much oil out, you would be burning a ton of oil and would be smoking(out the tailpipes) like crazy.
'89 Notch: 3O4, Novi 2K/12psi, TFS heads, TFS Stage 1 cam, Cobra Intake, Tremec, Spec Stg. 2, C springs, Konis,MM CC plates, Cobra brake conversion w/ Bullitt wheels, and more crap. firstname.lastname@example.org with no tune- New BBK Long tubes, x-pipe and Tweecer RT and 436rwhp/432rwtq.