oil smell

Hi Everyone we just purched a 89 325 convertible tonight, red and in great shape, its for the wife she is excited, we noticed little spots of oil spitting on the inline 6 cyle engine right by the dip stick handle. but not a lot but som splater, leaving a slight smell of oil, we shut the engine down and there was no leaks on the ground, car has 104 thousand miles and runs strong, the automatic trans runs strong, i have worked for cummins engine company for almost 20 years, i now engines, is it blow by? or do we have a problem with the breather system ? or pvc valve , does anyone have any sugestions,