Don’t panic. My F code clone had one of the “orange” rear main seals that all failed almost immediately. Engine in the car and driving. My local experienced mechanic changed it with a Sneaky Pete. If I was younger, or he wasn’t around, I’d have done it. Should show up in a video as suggested.

This tools been around since I before I was 16, and I’m 75 now. So they work if done properly.

https://www.ebay.com/itm/282433611363?chn=ps&norover=1&mkevt=1&mkrid=711-117182-37290-0&mkcid=2&mkscid=101&itemid=282433611363&targetid=2512152189032&device=t&mktype=pla&googleloc=9191121&poi=&campaignid=21214286338&mkgroupid=161030074701&rlsatarget=pla-2512152189032&abcId=9407521&merchantid=101647546&gad_source=1&gbraid=0AAAAAD_QDh8q9WgO1tyRHD34Is-5AE3kN&gclid=Cj0KCQjwiLLABhCEARIsAJYS6unhsjgE9goolyZMc3V7-m-fekQST5OZVcbZujv7rjHQlLg4gWZVqkIaAvAnEALw_wcB

miker
55 bird, 32 cabrio F code
Kent, WA
Tucson, AZ

I know that I watched a video on YouTube that showed what's involved.  You could probably find it with a quick search.  

Bad news. That is a cover for the torque converter. It doesn't have a gasket and isn't meant to keep oil in. If you are seeing a lot of oil there you most likely have a rear seal leak. A common problem on the Y-Blocks. It isn't terrible to fix but you will need to know how to do it or hire someone that has experience with changing the rear seals. It is not a job for the faint hearted.

Y's guys rule!
Looking for McCullouch VS57 brackets and parts. Also looking for 28 Chrysler series 72 parts. And early Hemi parts.

MoonShadow, 292 w/McCulloch, 28 Chrysler Roadster, 354 Hemi)
Manchester, New Hampshire

Knew I had a leak, well hoped I was rather than burning it. After a few drives it'd always be a little lower. My question now is, is this location on the engine supposed to have oil in it in the first place? Looks like it's part of the bell housing, but maybe I'm wrong. Does this panel have a name so I know what gasket part to buy?