is it a mist, or straight up oil comming out? that is verry low comp. even though it runs good, and the difference in the two compression readings are close, you may neeed new rings.
did you have the throttle wide open with engine NOT running when you checked comp?
if you do need new rings, you have to take the pistons out to see what size they are, then get them mic'd and honed, or you can buy a kit that does all that sht for you, then all you have to do is make sure your new rings are in spec, and put it together.
These engines are easy. I bought my 650 with a holed piston, and just bought a 1.50 over kit, and it runs like a top. First engine i ever rebiult.