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Needless to say, listen to Pete. There was a run of bad oil pumps in 07, from memory around October and November.
I think it is the oil pressure sending unit. I have the same thing on my 2008 Norge. I think it started in about 2012. I have not done anything.
Yes, Moto Guzzi's are shite. Burn them all and go away so the rest of us can enjoy ours.
until something falls off or fluids start running out of every orifice, LOL:)
I hope you mean the bike!