on my older points dist it has a shaft oiler on the side and the shaft has a spiral groove to oil the bushing.

the others just have a bushing on both ends and the shaft. maybe it's worn to the point of leaking but wouldn't gravity be working against it wicking up the shaft?

and the housing has drain holes in the bottom, is that where you see it coming out?

I just picked up a new reman RB point dist for 30$

looking at the procomp HEI dist for 55$ or a RTR billet dist for 75$ even have a big GM cap mopar HEI dist for 60$

I also got the FBO advance limiter plate to use in the points dist when the procomp gets here and it come out.