I just experienced that code related to cam sensor, ses light came on, there is 4 sensors on mine (4.4 n62) 2 were shot with oil leaks in and out....my INDY bought it from OEM BMW (do not go fot cheap ebay) ...$199cdn each ...i've changed 2 ...idle is great (not perfect) and SES off...

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2006 X5 4.4i premium, Sport package ,Winter Package, Sat Nav. AFE Power stage II Production : 08-2006
2012 BMW 128I Convertible Black
2011 Mercedes Benz B200 sold