I just replaced the front cover of a 2003 Ford, Ranger, 2.3

Les, The chain in the 2.3 is to last as long as the engine, normally if some thing was to happen, chain guides would wear first and you would likely here a rattling noise that would alert you to have things checked. This engine is known as an interference engine, meaning if chain did slip/break, it could cause real damage to engine valve train and pistons. If it would give you piece of mind and you have over 200,000 on it, have i changed. Check the attached links,instruction and guides, Good luck
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Did you replace the belt tensioner

May be its problem with timing chain and it has to be inspected and replaced.Or its possible that timing chain is got misaligned.

There are few help,links provided related to timing chain assembly and dis-assembly. Go through it and confirm proper inspecting of timing chain.

Click the required help link below:----How to Replace Timing Chain Cover & Seal on Audi A4 ? http://repairhelpcenter.blogspot.com/2011/11/how-to-replace-timing-chain-cover-seal.html
----------1982 Toyota Pickup: Set ignition timing, engine overheating, timing chain issue, dist off? http://whatisbyme.blogspot.in/2012/05/1982-toyota-pickup-set-ignition.html
----------How to Remove Timing Chain Cover and Seal on Toyota Previa?

http://technoanswers.blogspot.com/2011/12/how-to-remove-timing-chain-cover-and.html

--------

How to Remove Timing Chain and Gears on Toyota Previa?

http://technoanswers.blogspot.com/2011/12/how-to-remove-timing-chain-and-gears-on.html

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Ford Mondeo ST220 camshaft Timing specifications? http://technoanswers.blogspot.in/2012/02/ford-mondeo-st220-camshaft-timing.html
------------Replacing Timing Chain Cover For 2009 Ford?

http://repairhelpcenter.blogspot.in/2012/03/replacing-timing-chain-cover-ford-2009.html

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Timing Chains & Front Cover Removal on 2008 Ford Taurus? http://repairhelpcenter.blogspot.in/2012/03/timing-chains-front-cover-removal-on.html
----------How to Replace Timing Chain Cover, Chain, Sprockets, & Seal On Ford Taurus? http://repairhelpcenter.blogspot.in/2012/03/how-to-replace-timing-chain-cover-chain.html
---------How to Replace Timing Chain & Sprockets on Ford Windstar? http://repairhelpcenter.blogspot.in/2012/03/how-to-replace-timing-chain-sprockets.html
---------Timing Chain & Sprockets Replacing on Ford, Mercury and Lincoln? http://fordrepairhelp.blogspot.in/2012/03/timing-chain-sprockets-replacing-on.html
----------How to Replace Timing Chain & Sprockets on Ford Edge and Lincoln MKX? http://howtobyme.blogspot.in/2012/03/how-to-replace-timing-chain-sprockets.html
------How To Replace Timing Chain, Sprockets & Front Cover on Ford Expedition and Lincoln Navigator? http://repairhelpcenter.blogspot.in/2012/03/how-to-replace-timing-chain-sprockets_356.html
---------Timing Chain, Sprockets, Front Cover & Seal removal for Ford Mustang? http://schematicsdiagram.blogspot.in/2012/03/timing-chain-sprockets-front-cover-seal.html
---------How to Replace Timing Chain on Buick LaCrosse? http://howtobyme.blogspot.in/2012/03/how-to-replace-timing-chain-on-buick.html
---------These details will help.For more help keep updated.Thanks.

the oil pump is on the crank behind the balancer and timing chain cover:


REMOVAL

1. Remove the timing chain.
2. Remove the oil pan.
3. Remove the three (A) oil pump screen and cover bolts and the (B) oil pump screen and cover.
4. Remove the two oil pump bolts and the oil pump.

INSTALLATION

1. Clean and inspect the mating surfaces.
2. Install the oil pump and loosely install the two oil pump bolts.
3. Install the oil pump screen and cover and install the three oil pump screen and cover bolts.
4. Install the timing chains.
5. Install the oil pan.

The 2.3 uses a timing belt with an tension idler adjustment. Replacement is straight forward, just make sure to mark upper and lower cog pulleys before removing the old belt so that you can keep the timing in sync.

Hello;
The Ford motors are pretty good. I had 280K on a 2.9 V-8 that only needed the oil changed every 3K. Unless you have fluctuatuation in the timing then you should be ok.
These engines use a chain rather than a belt and have excellent life.
Thanks;
Rich RPM Northwest

has a timing chain, under the engine front cover.

This truck should have a timing chain, not a belt. If the engine is running fine and there are no noises such as the chain hitting the timing cover, you are OK.

I will assume you are referring to the timing procedure for a replacement timing belt (4 cyl) or timing chain (V6) With the V6 timing chain you simply line up the timing marks on the two sprockets so that they are pointing directly toward each other, crankshaft sprocket with the mark pointing straight up, camshaft mark straight down. With the 2.3 L 4 cylinder engine, you must first position the crankshaft at TDC, and then position the oil pump and camshaft sprockets with their timing marks to line up with their respective marks on the inner cover. Install the belt and release the spring tensioner to let it adjust itself, tighten the tensioner bolt, and turn the engine over for 2 rotations (always clockwise as viewed from the front, never backwards). Make sure the marks still line up, loosen the tensioner, allow it to retension itself, and tighten the tensioner bolt. If the oil pump sprocket is not timed correctly, the camshaft position sensor signal will be incorrectly timed.