The hose that looks like it would be close to there is probaly a heater hose, which would go to the firewall or a duct chamber for the heater core. PF pretty much covered the rest of the possibilities. If it deffantly is coming out of the bell housing and not running down the engine from above it would have to be a frost plug or a crack in the engine block. Not easy to diagnose without acually seeing it. Good luck, doesn't sound good in any of the possibilities.

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