That is definetly the sensor for the spark wire. And there is oil under the cover. You wil need a new gasket if you remove the cover too. Since you have an 05, I would think it is still warranteed? If so, take it to the dealer ASAP. If not, you will need to pull the cover and hope you can repair the wiring if it is broken or shorted, looks shorted from the picture. I don't think a new sensor/wire would be that much though, and if you do replace it, you MUST be sure to gap it according to the manual or it might not fire, been there, done that.
As for the gas/oil, just check for leaks or a stuck float bowl.
