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What I think you are seeing is overflow from the coolant overflow tank (which now contains oil) popping your coolant cap and since the oil is on top, that's the first thing that gets expelled and flows down the drain in front of your rear right tire.
Fingers crossed that it's the oil cooler. I haven't changed mine (it was replaced with a new one when my engine was rebuilt) but it looks like a simple job to replace it.
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2001 Boxster S - Speed Yellow, Black Leather, Tiptronic, Jake Raby rebuilt 3.2 with IMS Solution
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