You need to replace the plastic bits for the oiler tube very soon. I wouldn't run the engine/drive the car until you do. The plastic pieces are fragile and knocking the tube can break them. The ticking you are hearing is likely due to a lack of oil on the cam lobes. Running without oil flowing over the cam lobes will eat up the cam.
'73 280SEL 4.5 (9/72)- RIP
Only 8,173 units built from 5/71 thru 11/72
'02 CLK320 Cabriolet - wifey's mid-life crisis
2012 VW Jetta Sportwagon TDI...at least its a diesel
Non illegitemae carborundum.