I also own the same type of saw. That part you think is leaking may not be the case. If your saw casing is an aluminum cast case it could be leaking around your oil fill hole, then running over to the side by the bar. The threads can easily get stripped out or the lid threads are not as tight as they were when new. The cap is not your hard plastic like the new ones now or the older style like mowers that are metal. Try to find a junk mower with a cast aluminum plug, go to your local hardware store and get a rubber gasket to fit over the threads and screw that in. That stopped my oil leak and that might stop yours too,and save alot of money.
steve, January 2007