Exhaust Gas Sensor Error

ok, finally got my elm327 OBDII working and read my ECU fault....

I have an Exhaust Gas Sensor error (P1312 if I remember rightly)

Now I have 2 questions:

1. Should I be rushing to fix it and what's the risk if I don't?
2. How much and how easy is it to fix?

Thanks

 

Did it tell you which bank sensor it is in along with the code?
Have you tried to clear it?
No issue apart from car running in limp mode and running crap with the eml light on
Sensor price bout £100ish pending on which one is gone

 

Runs completely fine.... I didn't see more details.. I'll check next time it comes on... I had no problem resetting it..

Could it have anything to do with the tumbler valves sticking if I'm not getting limp mode?

 

Take a shot of the code on the screen next time it comes up before clearing that would defo help

 

Will do