Porsche Boxster 986 leak... What is it, is it bad news?

[Mamuci]

Bought first Boxster, opened the hatch behind seats and seen leaking oil..... See attached image, is this bad.? My first post 

[JFP in PA]

It may just be the oil seal ring has failed on the chain tensioner (very large nut in the left center of the picture).  While the fix is cheap (replace the seal), you need to put the engine at TDC, lock it, and use cam locks to hold everything in position while removing the tensioner to replace the seal:

 

[Mamuci]

Thank you, very impressive, first post, love the car to bits and been looking for faults, it's not leaking as such dropping oil, but oil is all around that area, the nut you mention actually had oil inside the top of it, I wiped it with tissue as you can see on photo. I am grateful of your response. kind regards Colin 

[JFP in PA]

You might try re-torqueing the tensioner, it may just be loose.  Spec is 59 ft. Lbs.

[Mamuci]

Do you mean just tighten the nut.? 

[JFP in PA]

That "nut" is actually the top of the tensioner:

 

  So, yes, that is what you need to check the torque of (59 Ft. Lbs.)

[Mamuci]

I see that is a big nut, did not realise it was that long. Thank you once again. Regards Colin 

[Mamuci]

I see that is a big nut, did not realise it was that long. Thank you once again. Regards Colin