I have a feeling that's likely part of a broken push rod. A broken dipstick tube isn't going to make the engine sputter, backfire, and quit.
Show a picture of the end of that piece, so that we can see the size of the hole. That will help to tell what it's from.

 

Only thing that made me think it might not be a pushrod was the seam I saw down the side in his pics. Pushrods usually don't have a seam down the side, but maybe it's a cheapie that does.

 

Maybe that "seam" could just seem like a seam. Could be a scratch, gouge, crack, split or fracture.

 

well i went back out and took off the drivers side valve cover and found a cracked rocker and one that popped off the rod. One missing rod that i didnt notice on first glance. So mystery solved its a piece of a pushrod, whats next?

 

Well you need to pull the pan to fix the hole and while your at it you might want to check the rods and main bearings. You will also need to pull the intake because the lifter more then likey will have jumped out of the bore. I will also put a nick in the cam at some point and if you install a new lifter it might just wipe out the lobe. You also might want to find out why the push rod and rocker broke. I would pull it and freshen it or you could find a good motor and swap it out.

 

Often when a pushrod breaks it's either a failure of the pushrod, or the lifter collapsed. Either way it means bigger problems that can invlove the cam, and other items. As I previously mentioned, you will really need to check the bearings and everything else before replacing parts, as this continues to sound like it may need a complete rebuild, or new engine.

 

Looks like you nailed it Chuck!

 

Well yeah, but for this guys sake I wish I hadn't!
Thinking of a spot in the valley where that piece of push rod could have made it's way through. YAV8's scenario of the lifter popping out would leave a nice open area, and if the cam lobe came out of that one alive, it would be a miracle. You'd think he would have noticed a lifter out of place when he checked things the first time though? Guess it could have been a lucky shot, and the piece pole vaulted straight down an oil hole. Scrutinize EVERYTHING inside that engine using a fine tooth comb (don't ask, I don't have one).

 

Regardless I think he is pulling the engine and rebuilding if he wants longevity. He might fix what he can find but who knows what other damage is done what he might miss. Personally if it was mine it would be out and on the engine stand getting disassembled at minimium to short block status to check everything, wouldn't trust doing it in the car.

 

Pretty sure that short piece of pushrod could easily find it's way to the oil return hole, but what's puzzling is how it got to the front crank counterweight to be punched through the pan at that area?
I've torn engine way down in the car, but I wouldn't rebuild one in the car either. I want mine hot tanked, magnafluxed, and several other machine processes done that require it going to the machine shop.