Two thigs come to mind here:
- piston blow-by .Which could be caused by insuffucient engine break in and the rings not sealing or a partial seizure smearing the cylinder wall .
- poor scavenging due to flywheels scooping the oil past the oil collection point in the crankcase - it happens to Norton Commandos a lot .It only becomes apparent at SUSTAINED high rpm .Varying the rpm ,as in a race ,will negate this effect .
The second reason might cause cavitation in the oil pump and a resulting lack of pump efficiency ,was the pump replaced ?
Pump seals maybe ?
Sorry but I'm not familiar with this engine ,good luck .
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