Nasty Oil Leak from an odd source?? Help please

[Misterio]

Hey guys so luckily i felt like checking out my engine today after I installed my new battery and unluckily i looked under the car and it was leaking oil at a rapid rate. So i took some pictures and video of the general area that I saw the leaking from. It seems to be coming out of this plug that I have in the pictures below... I don't know what it is or why oil would be coming out of it since obviously its an electrical plug of some type. Someone please help me, thanks in advance!

p.s. if you take a look at the video at the 40 second mark it shows the plug leaking a lot of oil. its hard to see the oil leaking, sorry about the crappy quality it was all taken with my cell phone camera.

video: http://s64.photobucket.com/albums/h186/ineedtogostudy/?action=view&current=MOV00005.flv

 

[tqmx1]

Eather the oil pressure switch or sensor has a blown dipharham. Remove the unit take it to your local parts store and get a replacement.

 

[Misterio]

thanks a lot! i just ordered it bcuz nobody has it in stock.

 

[Misterio]

Question: what is the best method to take it off and will oil spill out after I remove it?
Thanks

 

[tqmx1]

Just a little, Have the new one ready to go in as soon as you pull the old one.

 

[Defiant]

They routinely fail. Use a box wrench on it. Leakage from removal will be trivial. Use Permatex, Gask-A-Cinch or other old-time thread sealant on the threads- they are tapered, and the seal will not be enhanced by teflon tape. You do not want to use RTV on it, as the silicone will tend to lubricate the threads and make it more liable to backing out. Do not over-tighten, as it's possible to crack the boss on the block by doing so.