I have a 2001 s40 with 150,000 miles the car runs great just fix a hard starting issue with a new fuel requlator. My issue now is the car developed an oil leak on the passenger side that after I investigated looked to be the exhaust cam oil seal. I replaced the cam seal that looked good when I removed it but still replaced it. Everything went smooth pulley slide on without issues. When I got the motor back together I left the top timing cover off and started the engine and again oil is being thrown from what appears to be the exhaust cam pulley??? Looking for suggestions before tearing motor back down again, I have had it apart three times and would like to make this the last time for awhile.

Kevin

 

It's the CVVT gear leaking. Specifically from the little plunger looking thing. Many, many people before have had this problem. Mine caused the timing belt to slip and ruin 8 exhaust valves. If you replace it you must lock the exhaust cam from turning as the CVVT can be installed in any position as it's not keyed. You must put it back in the same position as removed to avoid bending valves or at the very least, setting the check engine light.

Here is a pic of mine where it leaked:

 

Good post man. I have the same car as you with 172,000 miles. Also had fuel regulator replaced. Also had pump replaced before that, but didn't seem to be the problem, ( $800 ugh ). Anyway I noticed my car blew blue smoke several weeks ago and found out I was a quart low on oil. So now I've been investigating reasons why? I have not seen any drops in my driveway, and I think oil is still being lost or burned, minimally anyway. People have pointed to various areas including turbo, pcv, hose lines, maybe just add thicker oil, and biggest fear that valves are damaged and engine needs to be torn apart and overhauled. Seems to be a bunch of good info on these boards, I hope you stop that leak.