Thanks a bunch guys. You have confirmed what I was thinking/ dreading. I will pull the oil pan off and the front cover to find out what is wrong. By the way I am not running any thermostat in the cooler, but thanks for the heads up.

Interesting notes, I fired up the car yesterday and it held a steady 15 lbs of oil pressure at idle but would only go up to 25 lbs at 4000 rpm. Checked the oil after running it for about 20 seconds and the oil on the dip stick had air bubbles in it, not foam but bubbles. Let it sit for 15 minutes, checked the oil again and the bubbles were gone. Second point the kid who owned the engine before me has swapped an S5 front cover on to an S4 block. I am really going to look at the o-ring closely.

Another point, had to fly down to Atlanta yesterday on business. I had to go to Oakwood to visit a customer. Took the opportunity to visit Road Atlanta for the first time. Oh my goodness!!!!! That last turn before the pit straight, the drop while turning...... A ton of people say that Turn 2 at Mosport is one of the most difficult corners in racing, but you guys that race hard through there have just as big cojones as we do. My eternal respect.