water leak top of oil cooler

The oil cooler has a weep hole, when coolant comes out of it this means the oil cooler must be replaced. They are expensive, somewhere in the range of $200-300.

Some say they can rebuilt and it is a simple and cheap matter of replacing some o-rings. Not sure about that...

On my 96, had a problem with a constant oil leak from the oil cooler. I found that it is removable and inspection is much easier once off. Apparently, the O-ring between oil-filter adapter and the oil cooler is prone to leaking. In my case a replacement O-ring replacement fixed it right up.

To replace, remove the oil filter. Drain the coolant and remove the lower radiatior hose. There is a large Allen bolt through the center of the oil cooler. Remove it. It is then possible to access the block to oil filter adapter bolts. Remove the adapter and replace the gasket.

The oil cooler is not absolutely required and in fact it has been dropped from later model Mustangs (1997+ I think). Therefore, an oil filter adapter and new block gasket could be installed from a later Mustang solving this problem.