[skyship007]

Originally Posted by ITSv40

These engines are notorious for mayo in the dipstick tube. The tube is exposed on the front of the engine and suffers from condensation particularly on short journeys. My 2.0lt phase1 suffered during the winter as I only ran short journeys to work and back. Periodically I removed the dipstick tube and pushed a piece of rag wrapped round a piece of wire through to clean it out. The engine never suffered any head gasket failure or goo under the filler cap. Oil was changed ever 5-7000mls and was still in good condition when scrapped at 370,000mls. Only scrapped due to bodywork needed.

Water in spare wheel well most likely coming in around rear light gaskets.

Where is the dipstick on a 1.8 ?? I must have checked a few thousand petrol engine dipsticks in my time and I've often seen a trace of mayo under the oil filler cap that evaporates, but real mayo in the oil is serious. One good right boot session and the turbo bearings will suffer. It will make short work of a VVT unit as well.

Minor HG leaks on high time engines are very common and you can live with some IF the oil is changed often enough AND the anti freeze content of the coolant kept as low as possible. I can remember some cases where the engine was sludged out or the dipstick seal defective, which caused mayo just inside the entry point, although those were SUV types used in the wet a lot and their Ford V6 blocks were well worn.
If an engine has a turbo it does tend to fry off fuel contamination and evaporate water from the oil fairly quickly. The 2.0 probably runs lower oil temps than the 1.8.
The OP needs to send a picture of his dipstick for all to see!