Cut head gasket?

[240sxitup]

Recently bought a 240sx, with an sr20det engine in it.. I've been told that the headgasket on it was cut off, where the front cover is located..due to it bending in at that location.. The engine runs fine, and doesn't leak any oil at the moment.. It was said he used a oil-purpose silicone gasket maker surrounding the perimeter of where it has been cut off; lot's of it. The head gasket is brand new.

http://i52.tinypic.com/25g3vkh.jpg
http://i53.tinypic.com/r1ec6r.jpg

The dude was being straight up honest with me, because the price of the car was low.

Is this okay to use/ run on?
Will i be expecting any problems?
I know this is a LMFAO, but seriously; explanations?

[Sileighty_85]

Wow very ghetto, Not really a critical problem but dont be suprised if it leaks like crazy later on.

also be a little worried if the over use of silicone could fall into oil pan and possibly clogging the oil pick up.