Progress Thread Prime's 87 T-top Gt

Got the other side all pulled off. All the oil leaks look to be the valve covers.

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What is this bolt?! I know practically every damn bolt on this car. But I don't know what this is doing.

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Passenger side about 2" above the oil pan.
 
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Timing chain was a good call. There's definitely some slop in this one. On the upside, as I tore into it there is zero evidence of head gasket issues. All the coolant was perfectly green aside from some sediment at the bottom of the radiator.
 
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Drove a nut on. Gonna pick up the welder from my buddies this weekend and see if I can get that bitch out. I figure to weld the nut on, heat the side of the block where the threads are with a torch and go nice and slow.

I remember something being wrong the last time I changed the water pump. I guess that was it.
 
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