Also be careful about losing body fat without increasing muscle tissue. Muscle burns more calories than anything else in your body, so the more muscle volume you have the faster you will burn calories (that way your not adding to fat stores)
As far as eliminating the fat pad, why would you want to do that? Fat serves to protect your bodies organs, in addition, if you lose all the fat on your body you need to be very careful about calorie intake. The reason being that if your caloric requirements exceed your caloric intake your body has no choice but to feed off itself. Starting with muscle tissue and eventually the organs themselves. This is what usually kills anorexics, their organs become so damaged they fail.
So my advice, stop worrying about a little fat pad and just maintain a healthy lifestyle and continue working on Penis Enlargement gains.