325xi Valve Cover Oil Leak

I believe my 02 325xi has a pretty major oil leak. When I check out the engine I find a lot of oil around the valve cover. Is it possible the it is just my valve cover or something else. I smell burning oil after my car heats up and after my car sits awhile there is oil underneath it. I just bought the car a week ago and it was inspected and had the oil changed before I bought it.