I just bought a 2004 dodge ram 2500 5.7 hemi with 118.000 miles on engine original miles the truck is quite rusty I see but runs good till one of my workers took it home for lunch and to my surprise found out he tried out running cops with it dummy anyway I got truck back 500 cost got in it to start and it started right up but no oil pressure so I shut it down come to find out on the side of the block just above the oil filter it's spraying oil out I have a 1500 same motor and there seems to be a screw in plug there ět could be coming out of or could it be the gasket which would be head gasket correct

 

I rec you first check the oil filter. Replace the oil and filter, and check that there is not an old oil filter gasket still stuck up in there.
probably not head gasket.