Mk 6 Engine Blown

[CBrookzx]

Hi all,
I've just bought a 54 plate transit connect 230 lx today from a family member, I already knew it wasnt running and was going to use parts from it for my other van then just scrap the rest. The engine is done to be honest but now I'm thinking whether theres much point fitting a new engine or possibly how bad it is to repair the old one, the problem with it is that it rattles really badly and has got to the point where it spat oil all over the road I picked it up from and left a part of what I assume to be the sump, it sounds as though something has dropped into the engine/gearbox, what does anyone think this could be and do you think its repairable ? And my other question is if not, would there be much point in putting a similar engine in ?
Thanks