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I've got a 195cc motor that will fit that It has 12:1 compression, makes just north of 20 HP (vs. 9HP for the stock 125), but is a bastard to start.P.S. I'll sell it it to you if you're interested.
From the photo, it could be something as simple as the float valve stuck open and leaked fuel.
it's motor oil
hm, I'm not into kicking all morning to start but if it just takes a little starting fluid spray I may be interested..it would really honk with that motor, pardon the goose pun..
You should be able to see where it is leaking from. Hopefully, it isn't the gasket where the two crankcase halves meet.
on preliminary inspection, it looks like the gasket where the two halves meet just like you say..I'll clean and inspect this weekend.
Tighten the bolts maybe?
Looks like an electrical problem to me Dusty