Well, you'll be losing your oil to fix it...so try to save it...assuming it was LL-01 oil!
I actually think that you might have enough 'bite' to get teflon tape to work, but you really need to get the plug out and see what's going on.
Could be that you did crack the bolt...you'll know when you get it out. Use vice grips on plug and turn and pull out.
I'm so depressed. No one wants to come see me in NYC: Sat, Oct. 8, 6 p.m. at Greenwich Village Comedy Club.
Mangofy your E46!