For extremely hot climates, this kit is a great option. The hoses attach to the block and oil filter housing and add a loop of hose that diverts oil to the cooler so you can radiate additional heat.
Mounting the cooler is a bit tricky on Bugeyes; it's tough to find a clear air space that will provide good exposure to fresh air without blocking the flow of air to the coolant radiator. Refer to the photos above for installation layout.
If you live in the desert, race, or otherwise operate at temperature extremes, an oil cooler is essential. Requires an additional half quart of engine oil, which will also help radiate heat.