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You probably need to replace the rubber O-rings in the oil pan. They fail, causing oil pressure to be reduced at the top part of the engine (camshaft and lifters). Rich Kelly (Bay13) at Volvospeed.com guided me through replacing my O rings in my 1999 V70R last year, it has not ticked since. Go to the FWD/AWD section on Volvospeed.com and search for "noisy lifters". SOmeone recently did a great write up on the O ring replacement procedure.
Before I replaced my O rings, when the car was running and I took off the oil cap and looked in, I could see small "strings" of oil shooting accross the camshaft. After I replaced the O rings, I could see streams of oil as big as my finger shooting accross the camshaft while the car was running. More oil is definitely getting up there now.
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