There should be no oil coming out of there. Sounds like someone has drilled out a stud and got it wrong.
HiHad another look at it today…Tried a M6 bolt ,just for the size . Bolt screws in but then goes loose so I guess the thread has been stripped ..Would it be possible to re-drill and tap it to 8mm and then use some 8mm stainless threaded bar to make a stud,how deep should the thread go in engine as I don’t want to bugger it anymore…..I have a decent tap & die set , would a 7 mm drill bit allow to be tapped to 8mmIt is the bottom stud on number 4…Thanks..
If you do that, you need to be sure that you have room enough to turn an 8mm nut to tighten the exhaust clamp.. Personally, Id go for the helicoil solution to keep standard M6 stud fitting. For example https://www.screwfix.com/p/helicoil-eco-thread-repair-kit-m6-x-1-0mm-14-pieces/293fr
Should I still use studlock on it