My 2005 MINI hit 85000 this month and I have been having intermittent CEL appearances. One right around inspection in May meant the replacement of a O2 sensor. Now the light has not gone off in a week and it looks like the other O2 is bad.
A little research has shown there was a warranty extension for these from MINI USA, that I, unfortunately was unaware of. The warranty extension covers certain 2004 -2006 vehicles.
It was not the oxygen sensor this time, but the knock sensor, which regulates engine/fuel economy, making sure the engine is working at it's best. Mine, obviously, was not. As for the oxygen sensor, it is indeed covered by the warranty extension, available on some 2004-2006 models. (I have a digital copy of the letter if anyone is interested.) I am at least going to be refunded for the part ($300+) and perhaps for the labor, which was not done by the dealership, but necessary nonetheless.
I wish more people here would share their MINI repairs/costs/results. It would greatly benefit us all!