Definitely a temp sending unit. It looks like a VDO. I also have a oil tem unit in the same location on my Armando(?) oil pan. It looks like whoever put it on there used liquid silicon. Mine leaks a little too. VDO doesn't recommend putting sealer on the threads so I didn't use any on mine so it leaks. I'm too chicken to tighten the unit too much fearing I might strip it. It's a tapered pipe thread so you should be able to crank it tight but I'm not taking any chances
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