Thanks a million Gilly,
I'll do the test as soon as I find somebody to help me with cranking the engine. Since the inner part only moves in one direction, can I push it further in and supply the pressure? I know this is not the right cure but will it stay in place or will go back over time?
Back to your test, when I removed the inner part from the old tensioner some oil came out but not a whole lot. Few drops only. This confirms your theory I guess that the path is clogged.

Is there any way to rich in the path by some thin wire or so? Is it deep inside the housing or close to the edge? I saw the hole on the tensioner which is just close the washer. I know that timing chain cover removal is a big job. Not that I don't feel confident but I just don't have the place to do it. I take the car to my friend's house and work there. I was looking at the procedure and it seems that it take a good long time to do it.

Is it OK to drive the car the way it is at all or the loose chain can cause further problems?

Sorry to ask so many questions but you are right to the point and I greatly appreciate your comments.

Best regards,
Sean