I was checkin my plugs for the problem of misfires and noticed a strange hole directly under where the ECT sensor is located. Should there be a plug or anything is there? Hopefully so, and this is my problem! There seems to be a lot of oil around this area also.

Can you take a picture?

Edit

Is it on this picture?

please provide a pic

Ill try to take a pic. It is right below where you are showing the sensor goes. There is nothing there in your picture.

Here is the hole, it also sounds like I have an exhaust leak up front also.

Nothing goes there. It is just a hole in the casting where the flexplate and torque converter are.

If you have a hole that size, you would know it.