Henning,
The bike has just under 36k miles. I purchased the bike from the original owner 5 years ago. The original owner told me that about 15 years ago he had done rings and a valve job on the bike putting in a set of 836 or so he claims to remember.
The bike rode fine up until 2012 were I started getting smoke out the left side exhaust, and would need to constantly change number 1 spark plug as it was getting fouled by the oil it was burning. I took the bike apart and found that I had a burnt out valve in both 1 and 2 cylinder. I had the head sent to a machine shop where new valves, oil seals, lapped, and the head planed.
While I had the head off, I inspected the cylinders for any scoring, but did not take the jugs off to inspect the rings (thinking now, I should have done this) I simply rotated the engine and looked at the walls; looked good.
Installed the head and began to setup timing (new points), synchronizing the carbs. during the first set of starts I noticed my oil was not circulating so I dropped the pan and found that the "No Smoke" oil additive I had put in the motor when it was smoking, had put a film on the pickup screen. I cleaned this checked the pump and reassembled. Oil was now running through the engine.
After the setup, I started with small runs around the block no real heavy runs. Bike was running good. I took the bike to work which is 25 Kilometers from home; when I got to work I noticed I had oil all over the exhaust and back tire. I topped up what was missing and rode home slowly. It seems to only spew oil under load at high RPM.
Now I have smoke coming from the right side again. Smoke coming from the breather at the top of the rocker cover. A constant steady stream, and it will pour out like a smoke machine when throttled. Raw oil coming from the oil tank breather under high RPM.
I will add more if needed.
Vince