That is a valve cover gasket leak. Let me guess, you put on a Victor Reinz before, right? I'd just replace the gasket with Goetze, and go from there. Worth a shot for $30...
Sapphire Black MetallicNatural BrownSilver Cube
e46 330i ZHP/ZCW/6MT - Sold
M3 - RIP
Alpine WhiteTanSand High Gloss e46 330i SunRoofLess/5MT