I'd say condensation in the engine, because of it's idleness.
Never let a car idle for so long after getting it out of winter storage. Start her up and immediatly drive of. Once on temperature, up the revs to get some decent heat in the engine. Should be OK then.
Just to be safe check your coolant for signs of oil.
<center>
<font color="blue"><i>1981 TR7 FHC Sprint (better known as 't Kreng)
1981 TR7 DHC (not very well known yet, but back on the road)
Also a 1980 TR7 DHC, 1980 TR7 DHC FI, 1981 TR7 FHC
http://tr7beans.blogspot.com/</i></font id="blue"></center>