Big Oil Problem., It started as a dribble... Options

[Brando]

This evening when driving with a friend of mine down to riverside my oil light came on. Not just flickering, but on. Went away at about 2k RPMS. Then i started smelling burning oil. Not good.

After we get to the pool hall, I hop under and take a look. I saw about half a quart of oil on the ground under my car. The 3.5 quarts were maybe somewhere between Van Buren and Arlington Ave.

After about an hour of pool i go back to my car, put in the 'emergency' half-quart of oil. I also take this time to see that my entire engine compartment has oil sloshed all around. Underneath the car is pretty much oil-bathed everywhere. I started seeing brown and white streaks in the oil from the return line. This concerns me. I made it to a Kragen down the street, bought a 10-pack of 10W30 and put in 3 quarts. That lasted me a whopping 5 minutes before the burning oil smell and oil warning light returned. Pulled over, added 3 more quarts, and made it almost home. I had to turn the car off and coast for about a block to my house. While driving my friend noticed a 'sprinkler' sound, of spritzing maybe. All i heard was a 'SSSSSSSSSSSSSSS' and saw oil spraying out the back.

I'm really concerned here that something expensive (!!!) broke. All I know is that oil doesn't stay inside the case and that I hear a spraying sound when the engine is on. Any ideas? Suggestions? All input is apprecieated. (IMG:style_emoticons/default/pray.gif)