oil in distributor

So... still having starting issues in my 87 b2000. Was only getting spark part of the time when cranking. However it would compression start and ran fine. Well yesterday it did neither. Went outside this morning to move it to a closer spot in my complex and fired right up, moved it and shut it off. 20 minutes later wouldn't start. Decided to dive right in.. pulled the cap off and out came a stream of oil...

Anyone else have that problem before? I'm presuming having that much oil in there would cause my starting issue