Hang on man! Do not mess with the water pump area! Here's the deal:
Two drain plugs-the one on the bottom of the case, and one at the bottom of the front frame where the two cradle halves meet. It points downward and is at the bottom of the square section of the frame, right behind the bottom of the front fender if the bars are straight.
The procedure-start the bike, let it warm up for about 2-3 minutes. Then, drain the oil from each of those two bolts I mentioned. Replace the bolts, then, remove the oil filter cover which is just above the water pump on the right side of the case. There are three nuts or small bolts (8mm hex head) holding the cover on. Replace the filter, then use a funnel and pour approx 1.8 litres of oil into the dipstick hole located on top of the frame, right in front of the gas tank. Use a funnel, and pour the oil in slowly. Best thing to do is to use a four-stroke, motorcycle-specific oil like Suzuki's brand, or Yamalube 4. Do not use regular automotive motor oil (too much to go into right now!). After you add the 1.8 litres, start it and let it warm up for a couple minutes. Check for leaks, then shut it off. Remove the dipstick, wipe clean, then reinsert it but don't screw it in, just let it sit in the hole, then remove and check the oil level. Add more if needed, otherwise, close it up and go ride!