This turned into a "GOOD NEWS / BAD NEWS" story.
First with the good news. George was absolutely correct, the intake was the source of the
oil problem. The intake was repaired, the engine put back together, put back in the Cobra, and fired up. No problems with it for 2 months.
Oil consumption was zero.
Now for the bad news. A ticking sound began to get louder and was traced to a broken rocker shaft. Dove sent another shaft which was installed. The owner took the car out for a drive and all hell broke loose after 30 or 40 miles. The new rocker shaft was finished. A cam bearing had spun cutting off the
oil supply to the rocker shaft. An over sized cam bushing has been ordered and the engine has now been torn down and has been sent to a machine shop to do the necessary work. It appears that the bore for that cam bushing is slightly bigger than it is supposed to be. This engine cost a fortune and has been apart many times. There always seems to be another problem with it, just around the corner.
Wayne