I do not think 2V engines generally come with coolers. Also if you think you are getting water in your oil because of a milky goo on the underside of the oil filler cap that is normal and does not indicate water in oil.
Well I just put on PI heads and since then I have been getting oil in my water (but not water in my oil) and my oil level keeps getting lower. Before I ruled out the heads or gasket I wanted to check for the cooler.
But I guess I dont have a cooler so it must be the heads or gasket.
honestly i cant tell by that picture if you do or if you dont....but try to see where the lower radiator hose goes to. if its to the same thing that the oil filter screws into, then there is a gasket behind that that is supposed to keep the oil and coolant apart...it may have failed.