Burning and Leaking Oil...

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I have a 2010 Peace Sport 50 that I purchased used in 2011.
I installed a 100cc BBK in January this year and I just got it running right in June.
A couple of weeks ago, it started smoking like crazy and you can see the oil dripping from the bottom of the motor, (just not where it's coming from). It's still starts and runs OK unless you run it real hard at which point it will start bogging out.
A new oil pump came with the BBK, but I elected to wait until after the break in to install it. I thought maybe that was the issue so I installed that last week and it still smokes when running and I collected about half of the .7 liters of oil that drained out from the leak.
There does seem to be a lot of oil around the front where the exhaust comes out. I checked the variator area, and it's clean so I know it's not a seal there.
Anybody got any suggestions as to where to go next?