Looks like ive got oil leeking around the valve cover. What could this be a symtom of?

 

The first thing that comes to mind is that your PCV valve is not operating properly. If you are not venting the pressure has to go some place and usually the weakest link is the valve cover gasket. Do you have an OCC installed? Some people have tied both sides together and have run into this problem. I believe the best way to do the OCC install is to just put it between the PCV valve and the gray line. Also I have seen some examples of PCV hoses being pinched because of the location of an OCC.
In any case I would first check to be sure the PCV valve is operating correctly.
Steve

 

OK...maybe dumb, but first thing I'd chk was the fasteners around the valve cover.......

I would not be surprised to find some finger loose....I wouldn't EXPECT it...but would not be surprised.

 

If it was my old VW Rabbit I'd expect it.

 

What year is your Cooper? There was a factory recall on the PVC hose on my 03 S. Would collapse and block the hose. Heavy duty oil resistant hose was a quick fix. But, you may have loose cover or bad PVC as above.

 

Awesome, I havent had a chance to get out and check the car, not much driving anyway, but today or tomorrow, Ill check the cover and hose and see what i can find out. Thanks