griff is right about trying to race a bike of this age, mx bikes get a thrashing from day one so an old bike like this will be past it's best.
If you fancy spending some dosh on it you could face it in the classic evo class perhaps.
On my 2 strokes I use Silkolene Pro comp 2 oil, 33:1 ratio so 165ml to 5l of fuel from memory.
I would ask what oil it's been run on and what ratio.
Before you ride it give it a good 10 mins to warm up and make sure the tops of both rads are warm before you head off onto the track.
A new plug will be worth putting in it too.
Hope this helps.
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