Reachin' back through the cobwebs... ... but...
If it's like the 400, and I'm pretty sure it is, starter motor sits high on the crankcase in a dry bay... no oil. There's a chain that runs down to the crank to a sprag type clutch. It all runs dry... no oil involved.
'Course I've had a few tokes since the last time I worked on one, so....
Always Oil on moving mechanical parts on a motorcycle more or less.
Or at least should be otherwise they wont last 40 years. That well
Seals also need some .lubrication .for best durability
If no oil Gary has it with grease inside .#16 . that may look like wax .
Needing a service. ( as in hand held drills and such )
But I get what you mean .its a different thing on the XS 650 Sitting low ..