You should smear it with your finger so it doesn't glob.

The b58 uses that for the oil pan and timing cover. It's a pain to remove. Make sure it's not way expired (it's very hard to find a tube of the 5970 that is not expired!) and spread it with finger to get a nice even layer, remove the excess globs that could eventually find their way into your oil pickup

I don't know anything about the v8s but on the straight six when you do the oil pan you have to put the sealant in the four little corners where the front and rear covers meet the block. There are 3 90° angles meeting and a gasket on two of them isn't going to do it so you put sealant in those spots. I imagine the V8 would be about the same with the front and rear cover.

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'05 E53 3.0 6mt
'17 F30 340ix 6mt
'96 E36 328is, in progress