oil leak

94 740i.underneath the power steering reservoir.thought it was the pentosin that was leaking.so replaced all the hoses.drove car and everthing seemed be fine until i punched it.And once again i found this fluid which i later determined to be oil on the hoses that came from underneath the reservoir.it looks as if the oil is shooting up from the bottom.i can't see where it could be coming from,but it is definitely oil.this only happens when i push the accelerator past the detent.otherwise if i just drive normally i get no leak at all..has anybody else out there come across this problem?would really appreciate any help