Yes, the rocker cover can indeed leak oil onto the exhaust. There is a drain back passage that will sometimes leak oil at the passenger side rear of the head to block seam. This is below the exhaust so it should not make a BURNING oil smell.
Have you tried washing the engine then trying to see where the oil is coming from?
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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual
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