I couldn't wait as the drain plug was leaking oil pretty badly. So went ahead and just completed replacing the oil pan, drain plug, gasket and oil level sensor. Looks ok now.

The hardest part was to remove the reinforcement plate. I'm leaving it off for while just to make sure the leak is fixed before putting it back on.

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Here's the Photo Album of my (sold) X3; Album of my (newish) X5 is on the way!
(WARNING: read this before you buy anything from Umnitza)