Tim, You will always get some oil out the sump drain !, Not too much I hope.I'll start off checking the sump oil content for volume, the mag had previously made its low speed running excellent, but definitely oiling up big time now. So possibly not scavenging properly.
funnily enough it did have joggle wires but I took them out. The bike has been running a straight 40 and the last few tops ups straight 50.
If the sump is fairly clear then I guess the top end needs investigation
theoretically the engine is Dec 53, a very late number.
Cheers Bill.