what do you mean by "RAW" oil? i assume you mean just the engine oil???
and when you say "Rebuilt"? we talking new rings and valve stem seals?
when its running normally is there any air coming out your crank case breather hole and/or oil cap?
the only way any air is coming out of the crank case/oil cap is from excess blow by, caused by the combustion gases leaking out from either the rings or the valve stem seals.
if the engine is indeed "Rebuilt" then id say there should be little to no air coming out of the breather hole at all. let alone oil...
stupid question...how much oil is in it? you didnt overfill the oil?