Oil thermostat gasket diy

[Marksx5]

Hello guys, new to the X5 scene here. Just bought an auction e70 X5 4.8. Went to changed the oil and once I started the car, the oil leaked out very fast out of the Left side of oil pan just above the transfer case (I think, see image).

A little about me, true bmw enthusiast and intermediate diyer(z3; 540; 325ci; e90 m3)

Has anyone performed this diagnosis and diy to solve the leak with detailed pictures? I heard that the oil thermostat gasket is 99% my problem.

Thank you for any input!

Ps can I get away without jacking the engine? Car is in the driveway.
Ps2: I can't seem to upload photos on here