aye, lose the caps man. Well, if its leaking oil from around the valve cover...i would suggest getting a new valve cover gasket and replacing it. The turbo..sounds like it needs to be rebuilt. Where exactly is the oil leaking from, on the turbo? How many miles are on your car? What color of smoke is it blowing out? Id assume a blueish gray? That would mean your engine could be toast man. Piston rings...or maybe even a head gasket? Sounds to me like the car has been pretty abused. Over heated way too many times...ran too hard. If thats the case...then....you might want to look into either, another car...another engine...or someone to replace your engine internals. I'm not saying, 100% sure, that your engine is toast..but IMO, that's what it sounds like.