I would clean the threads with an appropriate thread tap but also run a powerful magnet through the hole to pick out any steel if the bolt is steel.

They make tapered Replacement drain plugs for such but also helped a buddy replace his lower oil pan recently when he discovered the pan was cracked right through the drain plug hole. New pan bottom and gasket for under $60


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2011 E70 • N55 (me)
2012 E70 • N63 (wife)