Porsche's Type 718 (AKA the RSK Spyder) used something similar for cooling its oil.
From
a blurb about one of Karl Ludwigsen's books--
Quote:
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Fascinating is the shoot of the of the RSK “surface cooling” hood with its welded oil serpentine on the underside. It didn’t work very well – there is also a shot of the air scoop in the sill (seen only on the factory cars) for the supplementary oil cooler.
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Might be good enough for the relatively low demands that are placed on the cooling system by driving for economy. Not good enough for the worst-case, though.
-soD