Half a pint is quite a lot of water, and I couldn't begin to guess - or work out - how much moisture is produced by running a Panda for 600 miles.
Even if I could, the biggest part of it goes out of the exhaust and I wouldn't have thought you could have that much moisture in the sump just from condensed exhaust gasses.
IMHO,if you're getting large volumes of water in with the oil, it must be coming from the coolant.
I don't know what coolant header tank arrangement the Bella has, but on the FIRE engined versions I've seen the header tank is an integral part of the end of the radiator,and it appears to "top up" into the bottom of the radiator. As a consequence of that, you can be loosing coolant through head gasket problems and the header tank stays full to the top as long as there is pressure in the system, which is what the gasket failure gives.
It's only when you realise most of the radiator is cold, bleed it out (again), with the top off the header tank that the true coolant level shows.
( the "vandalised Panda in need of parts" is like this now - it has been for most of the winter - when the warmer weather is here I'll probably do the head gasket. As it only does runs of a few miles at modest speeds, provided the radiator is kept bled, and the antifreeze mix is topped up every few weeks it is likely to survive - keeping an eye on the temp gauge of course

)