72' GMC Tiny engine fire. Help!

[ItzhakRoberto]

Good Afternoon Fellas,

I'm fairly new to these trucks...i had a 71 i was going to fix up but plans did not go accordingly. I now finally got ahold of another one, a 72' GMC ....i have a couple of pics i will post.

I have been on this site for a year or so and have somewhat learned how to use the search bar which gave me some ideas where to start to look for why the smell of gas is so strong in the cab LOL

I know have another question...

I'm not quite sure but on the passenger side of the engine, near the middle of the exhaust manifold near the head, or maybe its the valve cover? there was a little seepage of engine oil..

My alternator belt broke while driving it which caused it to slightly over hear ( i stopped it as soon as i could, did not drive it far like that). and i saw there was a little oil there around the top.

ACTUALLY there was a small flame like the oil or something caught fire.
Instantly put it out but now i'm wondering as to what could have caused it, what should i look for?

I've seen it seep a tiny bit near there once before, but then again kinda just bought it. Not sure what the issue may be.

Any push in the right direction would help.

Last question, on the intake there is a wire or sensor with the wire cut in one of the pics, can someone help identify?

Don't laugh at the coolant reservoir, it was to simply make it home!

Thanks guys