283 blowing oil

I have just aquired a 1964 Impala with the stock 283 and only 39,000 original miles. I noticed a lot of oil build up that I thought would have come from seals leaking. I tuned up the motor and took it for drive (about 25 miles rnd trip). It seemed fine outside of blowing black smoke out the tail pipe when I accerated (figured it was carbon being blown out). When I parked it I noticed light smoke from the motor. When I investigated I found that the breather cap was push up at an angle and oil was all over the engine bay. Does anyone have any ideas as to the cause. I plan on doing a compression check, should I do something else?

Thanks!:confused:

If it hasn't been driven for a while the rings could be sticking my brother usually pulls the plugs and squirts in some kind of penetrating oil and lets it soak for a couple of days, cranks it with the plugs out, blows oil all over the engine bay but he has got them to loosen up a time or two. If it has ever had the smog conversion with an added pvc check that out. you might have to do a leak down test. air hose hooked to a spark plug adapter, turn the cyl to top dead center for that cyl, turn the air and listen for leaks at the tail pipe, carb and oil filler cap rotate the crank and check all eight cylinders. it will tell you if the rings or valves are bad

Thanks, I will try your suggestions!

Make sure the PCV valve is not plugged or that the PCV hose or port on th carb is not plugged with carbon. Will cause the engine not to breathe and force oil out.

How long has it been sitting? With that low mileage it must have been parked a while. Drive it a hundred miles or so, it might loosen up on its own, if it doesn't you're not out anything.