96 Cobra oil leak

My Cobra has been in storage for 8 years. When I pulled it out of the garage there was a large oil spot. It is all over the oil pan too, is the pan gasket prone to leaking after sitting awhile, or what else could it be? It's not anywhere in the engine compartment on the top side. It only has 20,000 miles on it, so it must be from sitting?

wow - a 96 with 20k on it! i would refill it with oil and watch for drips.

There is an "engine guard" below the pan and I can't see where its coming from.

Could as simple as the oil filter being loose. Or the gasket dryed out maybe.