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. . . .1998 Dodge Grand Caravan 3.8 liter oil leak from bolt near lower water pump hose. Any suggestions are welcome. Is it likely timing cover leak?. . . .
Air turbulence in and around the engine can carry oil from a non-obvious source to another area of the engine. You will need to clean all areas of the engine thoroughly. Then drive the vehicle at slow, city speeds (under 20 mph) for 5 - 10 miles to get a better clue as to the origin of the leak. Any leak should appear in its origin source and not migrate to other areas.

It could be the timing cover to the block. It could be the valve cover is leaking and oil making its way to the water pump area. You need to check the crankshaft seal and see if it is leaking. See attached image.

Timing Chain Cover.gif
 

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I’m going from memory and it’s been a few years, but I seem to recall my 99 3.8 minivan leaking in that area and it being the oil pressure sensor. Of course, the fan and wind blew it everywhere.
 
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