Flows back up over the engine......sounds like a violation of the law of gravity?
I'd suggest that the cam cover (aka Valve cover) casket is leaking. It is a rubber casket that seals around the edge of the cam cover, and also the spark plug holes. So in reality you may be seeing two leaks that look like on?
Have you tried cleaning the oil off and then seeing if it returns. If so then you can loosen and correctly retighten the cam cover bolts and see if it this seals it properly, or replace the casket..ensuring it is bolted down correctly.
Here is some more info on the casket
http://www.miata.net/garage/valvecover/index.htmlJ.
Former owner of Mailbu Stacey, Smurfette and Tweety.