trentw,
You will have to pull the sidecover off...not the pan! That oil line, as the pix I linked shows, comes through the water jacket from the oil distributor on the drivers side of the block.
The standard procedure would be to purchase a new line and replace it following the instructions.
Pulling the side cover off and investigating what is going on with the existing line would be the first order of business. For all anyone knows, it's sitting behind the sidecover pumping oil like a banshee...we can only hope.
If this were true, it would merely be a matter of either reattaching the line, or splicing on a little section, then reattaching it.
Any repair of this problems will require you to pull the side cover and asses the situation.
If you do this, you should round up the sidecover gaskets and the sparkplug hole gaskets. They might come as a kit.
Stuart