1969 442, original 400. Passenger side exhaust has a puff of smoke and some oily discharge out the pipe upon starting. No detectable smoke any other time. My engine skills are limited to valve covers and water pumps. I can take it to a guy I know that knows Olds, but that costs money and I'd like your thoughts on likely culprits, or easy troubleshooting tips.

 

Sounds like your valve seals are leaking oil into the cylinders on the passenger side.

 

If it is only when it is cold it is probably condensation and residue from the exhaust system. I am pretty sure the heat riser valve is on the drivers side so not much exhaust comes out if it until it warms up some. It certainly does not sound like anything to be concerned with.

 

It doesn't sound very serious. It could be the valve stem seals. You could conduct a compression test and/or a leak down test to get an overall condition of the engine.

 

Agree. Not too serious ... monitor the level between now and the next oil change.

 

Sounds like carbon buildup in the exhaust mixed with condensation. Carb may be on the rich side, timing not advanced enough, or you need a tuneup.