Ticking noise need new lifters? 360 v8

A horrible ticking noise has developed, have flushed engine and changed oil but it hasnt gone. Dads friend says i need new lifters, is this correct? If so what should i buy? Also will i need a torque rench to change them?
Heres a video: [ame="https://www.youtube.com/watch?v=UvQW_Whu0Gc&feature=youtu.be"]Need new lifters? 360 v8 - YouTube[/ame]
Thanks in advance :)