Wow It's frightening this amount of oil ! There is, for me, an only way for the oil, this is the gasket or May be your covers are porous, this the problem with this metal with the years the magnesium become porous.
I can't imagine this oil come from the spark plug hole LOL
2) Don't use acid on magnesium if you do that you will damage the cover,
You can use an usual paint remover for metal, use a paintbrush to put the paint remover ( a coat of 2/3 mm) after put your cover in a plastic bag for 24hours
8er.org/forum/index.php?attachment/22665/
After take a wire brush to remove the paint, if needed use one more time the paint remover and polish them.
Just before the paint use brake cleaner to digrease the covers.