Try checking the sump for water with the oil. If its not hoses, it could be head or gasket. My EA had that problem when i just bought it...
EA Fairmont Ghia : 3.9L MPFI, 2.5" cat back sports exhaust, K&N panel filter. Pioneer head unit, pioneer 4" three way fronts, Pioneer 6" 3 way rears, 2x 12" subs, blue interior light.
My main pride and joy : '76 XB Fairmont GS, 250CI, 140,000 Km and all stock.... for now! (Factory air-con on the way)