If you are using arctic silver 5 and its seeping out you are using way to much. Clean off the old paste on the board with alcohol swabs and then reset the heat-sink with a very thin layer of past almost see threw. Do not run the computer without the heat-sink on you will fry the chip.
I don't think we were using much at all.. Its because the cooler, screws in so tight, it puts so much pressure, that it all spreads out.. It wasn't seeping too much, although we put a tiny tiny dot in the middle, tightened it, then took it off, and it covered the whole entire cpu... But it's working now..