that sounds right on! if the timing belt got oily as well it is probably a good idea to replace it too. I also like to replace tensioners and anything else under the timing cover that is a serviceable part (water pump cam seals etc) when applicable. I hate doing things and having to do them again! Did it happen suddenly? (daytona) if it popped i would look carefully for other causes when it is apart to keep it from happening again. Good luck!