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either of those 2 places, or the head gasket or the valve cover gasket. There is no way I can tell you where it is leaking from. You have to degrease the area thoroughly, start the car, and watch carefully where it originates.

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I don't think it is a distributor hole oring or an intake gasket. I will assume it is engine oil from the color you describe. since it drips when the engine is rinning, I would suspect the rear main seal. Try spraying brakleen around the area and drying with compressed air. Run the engine and see if you can see where it is dripping down from.

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If you could be a little more specific on the year, make, model and engine, we may be able to give more information.
Is the top section of the engine wet?

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Trying to find the end point of any leak without absolute clarity can send you up a wall. Because leaks travel, and not always in a straight line. I reccomend going to a self car wash that takes coins, put the setting on de-greaser and spray the entire engine, and get as close under the car [EYE PROTECTION GOGGELS] and put the power wand all over the bottom of the engine, and transmission And let it soak in. For about 5 minutes. Cover your carburator, or air intakes on fuel injection. With a clean engine top and bottom you'll have a much clearer view of exactly where the oil is leaking from. And know if it's something you can repair yourself, or needs to go to the shop.

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I use an oil dye with a UV light to locate leaks.
The dye I use is Tracerline Dye-Lite and I bought a UV light from NAPA for about $40.
Tracerline dye glows a bright green at the source of the leak when the light is shined on it.
http://www.tracerline.com/dyesforfluids_all-in-one.html

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THANKS EVERYONE FOR YOUR INPUT I'M JUST GOING TO TAKE THIS THING TO THE DEALER WHEN THE WEATHER BREAKS THIS CAR HAS NEVER SEEN SNOW AND IT SITS ALL WINTER 92 SUNBIRD CONVERTIBLE WHITE LEATHER INT AND DEEP RED EXT THANKS AGAIN

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