My car was sitting for about a month and because of some slight noises I wanted to check out the condition of the cam belt. So I took off the cam belt cover and tried to start the engine. This resulted in a cup or two of oil barfing out of the air intake. I also noticed that the oil reservoir under the hood was almost completely empty.
My guess is that the reed / check valve has failed and all the oil has drained in to the engine casing.