On mine with the twins it stuck out behind the manifold, with the efi same deal just bend it make sure your tube is stuck in properly or you'll be the dipstick on the side of the road with an oil storm under the bonnet [B)]
From memory if you just spin it around the bend should be fine pointing backwards, wouldn't drill a hole...
something to watch is that heater hose over the extractors too with the heat it may drop down a bit and melt. Got mine under the extractors.
keep an eye on the booster hose too learn the hard way trying to tune twins with a leaking valve.