I'd check it closely...even consider a dye test
...if you're not clear where the oil's coming from, a dye test is a cheap way to locate the source. Essentially, a shop puts in a UV dye into the oil and you drive the car for a bit. Then they use a UV light to spot flourescent spots - aka sources of leaks. I can't imagine this service being more than about $75 or so.
The rear main is the seal at the back end of the engine sandwhiched between the tranny and the block. $10 part and 4 to 6 hours of professional labor, more if you DIY. It could be the source of the leak but you want to really be sure before you spend the cash to go after it.
My vote if you can't find the leak: Do a dye test.
Jeff
90 535i
No more oil leaks thank you.
Bellevue WA
90 535iM - not much stock remains. 3.7 liters, ported head, cammed, 3.73 diffy, M5 brakes, MAFed, yadda yadda yadda
86 Porsche 951 - Track Toy