I've got a similar sound coming from mine. I think it's either the lifters or tappets (or whatever else is under the rocker cover ) or possibly an injector. I've heard thay injectors can click too when they fire.
I find it annoying but I live with it...
__________________ Slothmobile™n. (slōthmōbēl)
Off-white EL Series II Falcon GLi Sapphire (4.0L Slothmatic™) with K&N Filtercharger, Tickford Sports Suspension, DBA Longlife Gold (front), DBA Longlife Slotted (rear) and Bendix Ultimates all round. Driven by The Slothman™.
Sounds to me like the lifters, if it was the extractors I'd suggest the gasket was leaking.
Try using an oil with a higher hot viscosity, like a 20/50 or something, see if that fixes it. Lifters do tick when they get a bit older but 9 times out of 10 this will cure it for a fairly long while.
Proud TQE Operator and President of SEFAG - the Society for the Elimination of Ford Automatic Gearboxes
Pacemaker headers + 2.5" exhaust
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