Alright, so the suggestion is to have it extend below the belly. As to having a hole in the cowling, if that was actually the case, not sure why that was needed. The pipe on my C150 was clamped to one of the nose wheel supports so came out well away from the existing lower opening. No extra hole needed.
It would seem, then, the best place and direction for the tube to exit is as far back and under the belly as possible (i.e clamped to the lower nose wheel strut support) and facing somewhat aft, as opposed to straight down.
The freeze hole should probably be up nearer the muffler to take advantage of the heat, or is that likely to create a flame out from those fumes?
The hole being reverse-relieved to make it invisible to any exiting oil or fumes, as I stated, above.
Comments, please.