I recently bought a 1978 monte carlo with a fresh rebuild 350 motor ( as i was told from the previous owner). when i start the car the oil pressure on the dash acts up so instead of having it electic i go direct with an after market gauge. When i first start it up it reads 40 psi. As it warms it drops as low as 5psi, ok. when i drive it at cruise speed it averages around 20 psi when i lift my foot off the gas to make a turn and start breaking it goes down below 5 psi . i have no idea what type of oil the previous owner has in it. . just to add if im looking at the motor from the front, inside the left valve cover makes a small ticking noise. Any helping hand would be greatly appreciated