Help!!! Oil, Oil, Everywhere!!!!! '75 240D w115

[Fisherman]

Help.
Pulled the car into the driveway and about 5 minutes later went out to move it and there is a puddle underneath it of engine oil.
Opened the hood and there's oil all over the front of the motor but not so much as I could not diagnose...
There are two large bolts/plugs on the front of the motor just to the right and above the main pulley. Just below these plugs (one is used to access the main oil channel to remove a steel ball from the tranny end) and to the right is a hole in what appears to be part of the mount bracket for the p/s pump. There is nothing in this hole i.e. bolt and it is spewing oil as soon as the engine builds oil pressure. I mean pumping it out. This hole is just to the left of the power steering pump and is almost equal to the same height as the pump.
I am attaching an image but due to the size restrictions here I cannot add labels to the image to help explain what is there.

WHY would this hole spew oil out and what goes into it just a bolt or ???? Doesn't make sense that it would just be a bolt hole and that it would allow oil to blow out of it.

Please help as I am dead in the water until I figure this out.