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The engine has developed an oil leak. The source of which is around the large plate at the bottom of the engine (See photo). I'm guessing this is connected with the engine's oil pump. I want to replace the gasket to see if the cures the leak. When I remove the plate what are the perils that will befall me (e.g. oil pump falls out OR ???)

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  Leak.JPG (38.96 KB)

No perils should befall you. The plate simply provides access to the pump's intake filter screen. Just remove the plate, clean the screen and any debris from the plate, and replace using a new gasket.

That's for cleaning debris from the engine periodically. It's not unusual to find bits of carbon, gasket material, or even some metal particles there. If the engine sounds good, and unless there is a lot of metal, I'd just clean everything up and re-install with a new gasket.

It's been a while since I removed the cover, but I think the threaded holes for the steel cover studs go thru the pan casting. Some sealer on the stud threads would help take care of a small leak coming thru the threads.

Also, with the oil drained, a nickle plated NeFeB magnet placed in the pan plug does a good job of collecting fine magnetic particles. I found a size that fits right into the existing plug. Did the same for the transmission and differential plugs. Works great.