If it's a valve cover gasket, timing cover gasket or pan gasket it won't stop the leak. Broken gaskets can't be sealed except by replacing them. If it's a rear main seal, cam seal or something like that, it may. It also may make it worse. If it has a rubber seal that's just dried out and shrunk down, it may or may not. If it's broken, it won't. It's a 33 year old car. If it's a rapid leak you won't see any improvement.

Put oil leak dye in your engine and see where it comes out. To see if it may or may not work. Follow the instructions on the bottle. Don't carelessly dump that stuff into an engine. You'll regret it.

Depends where it is leaking form and how much it is leaking. If it is viable, it’s not a permanent fix, but a band aid.