may not be pan gasket:
I had exactly the same leak - turns out there is a common leaking point on the beemer 3.5 litre six : I hope this is clear enough - there is a triangular thing on the front of motor ( north of sump, about 1/2 way up block), held on by ( i think ) 3 bolts. One of these gets loose , hence leak. If there is what looks like built up grime in this area ( look in from rhs of engine bay ), spray degreaser - and you may see what I mean. check the bolt closest to you when looking in to engine bay. I don't have photo's to post, and buggered if I know what the part is called that you have to tighten.
Stacy Au
535i 5 speed '88
Track pack = camber plates/king springs/m5 Nurb' sways/17"bbs 3pcRS e34 spec/chip.