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No offense here but I see a couple of things in this picture. The breathers on the valve covers suck. You need some open element type push in breathers.
Remember, an engine is an air pump. You have a large chamber above the piston correct? You also have a very large chamber under the piston. It's called the crankcase. A piston moving up and down is going to cause pressure in the
oil pan. When you removed the PCV the pressure built to a point that it had to go somewhere. Lucky for you all it did was blow the breathers off. The PCV draws in fresh air through the breather.
Look at your everyday driver. There will always be a tube goint from one valve cover to the air inlet tube or air cleaner box. This allows the PCV to draw in as much filtered air as possible.
Back to your Cobra. If the breather is restricted the PCV will start sucking
oil thus causing your slight
oil burning.
Ask your mechanic friend, I am an ASE Master with an L1 Advanced