Harbor Freight model. Only used for a month. Tried again last winter and this happened. Tube does not look clogged. [url=http://youtu.be/XHmLnGPljmA]What's wrong with this power washer - YouTube[/url]

I purchased a BCP TC 1552 air compressor at an estate sale a couple of days ago. I have no experience working with air compressors. I had done a little brief reading on compressor specs before purchasing this unit, and have since done a little more research - enough to know that it's CFM will likely not be adequate for my intended use, but I'd like to try anyway. The manual says that the oil level should be halfway up the oil sight window. I could see no evidence of an oil line, so I figured it was either bone dry or overfilled. At the time I wasn't clear on how to drain the oil, and I figured it would be safer to run momentarily overfilled than bone dry, so I added a little oil myself to see if I could see evidence of an oil line through the sight window. I couldn't, so I figured it must be full but still wasn't sure. Decided to turn it on for a moment to see what would happen (estate sale people said they had used it briefly with no issues) and as soon as I did, it started spraying oil vigorously upwards through the oil fill cap. I quickly turned it off. The oil that was spraying out of it it had air in it, in case that is relevant. I then figured out how to drain the oil, and drained an enormous amount of oil compared to what should have been in it - which I know now since I added new oil up to half of the oil sight window. The oil that I drained was dirty and airy. After seeing how much oil had been in it when I purchased it I don't think the estate sale folk could have used it successfully like they had claimed to. Either that or someone there added more oil after they had used it successfully. Anyway... Now that I've added new oil - and a much smaller amount of it - when I turn on the compressor it now shoots drops of oil up through the oil fill cap. They're little drops so I can't tell for sure if they have air in them or not. The air pressure did start to build during the ~10 seconds I left it on while it was shooting out drops of oil. One other thing - on the way home from the estate sale with the compressor in the back of my van it tipped over on its side and remained there for about ten minutes. The air discharge side was on the top side when it was laying down on its side. Any idea what the problem is and if it's salvageable?