Its been my experience that when you have no bottom end but good top end power, usually means low compression, you might need to do a top end rebuild. (rings) The oil spitting out could also be an indicator of worn rings. The slow jet (inside carb) and air jet(screw on outside) control the rich/lean condition at an idle, by turning the screw on the outside of the carb counter clock-wise you will let in more air, ONLY TURN THE SCREW 1/4 TURNS AT A TIME. The more air, the leaner you get, a lean running 2-stroke is the worst thing you can do to a bike, so I say again only a 1/4 turn at a time to see if this helps. The bottom line is you probably need a rebulid, and decarbon the exhaust valve. The oil spitting out the front of the motor is not a big thing just make sure the exhaust isn't plugged and have it resealed. Top end rebuilds aren't to spendy or to difficult, so it shouldn't put a big dent in your pocket! hope this helps- bjawes