0il in my exhaust pipe?

Hi, I would guess that as your valve guides & stems and your rings/bore seem in perfect order ie no smoke, it is a build-up of carbon from the exhaust gases, this will stick to the inside of the exhaust pipe as it is prone to do over time. And if the bike is only started up now and again and not taken out for a run and being a 4 stroke there will also be condensation mixing with it when it cools down, i assume this is what you see coming out the tail pipe upon start-up. Answer-clean out with caustic soda or take bike out on a run to reach full operating temp that will burn off these deposits, and be fun at the same time!

Chris P.Duck
November 2010