OP, I have the same leak, but not as bad - no drips on the ground...just all over the belly pan. I had a local BMW indie looked at it last year when I had them do my PCV and they pretty much confirmed that it was leaking from the oil pan gasket. Needless to say, I was quoted a 10hrs+ job to change it out...so I'm still living with the leak til this day.

Since you're also in Irvine, I am curious to hear if you can find a lower cost solution - please keep us updated. Thanks.

__________________
2004 X5 3.0i
Born 02/04
Delivered 03/04