You do have the correct orientation. The solid end of the cup faces the rear of the engine. I had the same question when replacing the Raider head gasket. Checked the Conquest, which has never had the head removed, to verify. Used a new cup, carefully degeased all mating surfaces, added another thin ring of black RTV around the cup, set it in place, and installed the cam/lifter assy. No problems.
Just checked the Conquest and did a touch test. The cup base is about 1/4 inch recessed into the mounting blocks. Another place where oil can leak in this area is where the valve cover gasket meets the rear cam tower base, use a little RTV at the joint. Once used a partial roll of paper towels stuffed in this area to find the leak. Hope this helps.