I don't know if anything is wrong. But Here are a few questions. 1. Are you sure you are running the drill counterclockwise? 2. Do you have an oil pressure gauge on the engine system so you can look at the pressure? 3. Do you feel significant resistance in the drill motor when you spin the shaft? 4. Did you replace the camshaft for this rebuild? I have seen some replacement camshafts that were not drilled to deliver oil to the top end on stud oiled engines. The oil delivery is timed through the camshaft bearings through the camshaft. The head gaskets used may need a passage from block to head on each side. Not positive on that. Experts on the older engines would know for sure. Not sure if there is a work around if the cam/bearing/oil passages have been compromised to convert it to oiling through the pushrods instead. You have a number of things to check out and verify.
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