but your engine oil looks good though? Didn't the bike sit for a long time before you got it? I'm still not thinking its the water pump seal, although I haven't got any experience in that area of the bike but I would think your engine oil would show trouble too if it was. Some additives have a slick consistency to them. I'm sure others will help out. Hope it isn't serious for you tho.it smells just like oil. I put my finger in it and it smells and feels just like oil, it has that slick look to it too.