Oil leaking onto exhaust

[djlee]

I have been able to smell "something" quite horrid and potent for a while now. Not just inside the cabin, but outside the car too, just standing by it. I thought it was going to be exhaust fumes and just assumed the flexi was leaking.

Well i was outside just this minute testing my abs sensor, and i heard like a tinny noise, so i get under the car and start prodding stuff trying to find something loose, anyway, i failed at finding that one but noticed that there was oil all over the bottom of the flexi and running up the exhaust into the engine bay.

Now im beginning to wonder if it is in fact burning oil i can smell. The oil on the flexi looks like quite a lot, although im not sure if its been there since the previous owner, or if its fresh stuff.

I'm fearing that it's going to be a gearbox oil leak (since it's the most labour intensive, expensive thing i can think of at the moment), but im hoping it's either old oil from a previous "problem" or i can just leave it.

Anyone have any idea's where it could be from? Things to check? (preferably not requiring axle stands yet again, but if needs be... :P)