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<E36> M3 oil change

Hey guys,
  Thanks to all for the help that I have received from the digest. 

  Now,I have another question. I have never changed the oil on the M3 myself
since I bought the car. So, I think it is about time to learn how to do this
routine maintance myself. 

So, here are the questions I have:
1. What are the tools, and the equipment I need to do a proper oil change? 
2. What size wrench do you use to loosen the drain plug and to loosen the
     filter cap.?
3. Do I need to jack the car up to drain the oil? 
4. Do I need to buy the oil filter kit, or will just a filter do? I believe
     the filter kit comes with the rubber rings that must also be changed.
5. I probably need a oil service indicator reset tool. 
     Where is a good place to get one?
6. I have seen on the digest that there is a an electric oil changer that
     sucks all the oil and sludge out. Is this necessary or will just draining
     the oil do. Do they use such equipment at the delearships?

A step by step guide on changing the oil and the tools and supplies 
needed would be a great help. 

Thanks much for any help.
Reji