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If it has oil injection, oil had to be added to the gas and the gas had long since evaporated leaving the oil in the carb bowl. Seen it many times over the years.
As for an oil "leak", most of the oil injectors use gears to "push" the oil into the engine. Many of the oils today are so thin they can leak past the teeth and seep into the engine ( some engines have check valves to stop this and they can stick open or fail) or just leak due to a long time sitting with head pressure of the oil in the tank.
It would be interesting to see how much oil is in the crankcase?

The LED bulbs for the Speedo and High beam indicator as well as the tail light/brake showed up today. They took almost a month to show up from China but the wait was worth it. The tail light is very bright even in daylight. The Speedo and High Beam indicator are now a nice Blue color.
Head Light is the replaceable incandescent bulb type. I could not find an LED bulb for the headlight bulb.
Power drain is now only the headlight. Not a huge deal on the little battery since it is only on if the engine is running.
Total cost was less than 8 bucks delivered for the LED bulbs ( got extras just in case )
The old bike is getting closer to being road worthy. I'm waiting for a new kill switch that broke due to dry rot.

I've used padded spark Plug sockets for 55 years now. This happened while running as it died just after a wide open throttle run. I contacted AUTOLITE and they say it was over tightened in the head.
They asked if I used a torque wrench,which I did not.No warranty.
I've broken the outside porcelain insulators over the years,but never the inner ceramic one.
New NGK's are on the way.

Since I wrote the above, the engine did start again,but just for a couple of hours. It died as if I cut off the ignition. It would not start.
I tried it again after a few days. Still no start. And then, no spark. The new plug was cracked inside. I've never seen that before. No idea as to why.
I put in the old NGK and it started right up. I ordered new plugs.
The good news is I noticed the oil injection pump was finely moving oil to the intake manifold.
I drained the 40:1 mix and added high test unleaded gas to the tank. The engine started right up and I let it idle making sure the head temp did not exceed normal operating range. Once I was sure the engine would not seize up I took it out for an hour. It ran OK,not great as the carb has worn parts,... wide open it will bog down after a couple of seconds going downhill. On level ground or a rise it runs very well. It has a fixed jet. Neither needle valve Air/Throttle Stop come to a point.
The carb is clean inside. All air tubes and passages are free of any deposits,but the carb does not drop in speed quickly when the throttle it turned down.
The choke moves on/off and seems to seal off but I cannot verify that. Bike idles well and the engine revs up OK,if not just a little slowly.
Still waiting for some lamps from China.

My '86 Honda NC50 Express would not start. Brand new plug with less than two hours on it. Pulled the plug and the ceramic insulator holding the electrode is cracked 3/4 way up it body( Inside of the plug). The electrode is now off center. No spark because of this.
What would cause this to happen? Autolite plug.
Old NGK plug is working fine.

I'll give that a try.
Thanks.

'78 Honda Express "Ape Hanger"  handle bars are slightly bent on the left side. No other damage to the chrome or dents.
How does one go about straightening the bars back into shape?  I'd rather repair than replace with ebay parts.