Smoke coming from bolt near exhaust manifold

[Yohamrebel]

Just started my GN up from winter storage, notice smoke and bubbling coming from the bolt next to the exhaust manifold/ spark plugs. The smoke eventually stopped . By chance does anyone know the root cause for this ? I’ve attached pics

 

['87 Turbo "T"]

Valve cover leak?

Loose causing slight exhaust leak?

 

[dynoman]

^^^ This , oil from valve cover and probably a little condensation from sitting .