Thanks everyone for your quick responses to my problem. I need to correct some misinformation. It is not a Helicoil but a Timesert that is in there now.
Since I just changed the oil, if the drip doesn't get worse, this should give me enough time to get organized and get replacement parts and tools ready to get that repaired properly.
This does bring up another question. Since this Timesert is now loose, do I need to go to a bigger size? How do I know the exact size of what is in there now? 
Thanks all for your help.

Ed Wiebe
1990 Westfalia