My 1982 Honda express keeps leaking oil from the exhaust, any one know why?

First of all it keeps getting flooded and a black sludgy liquid comes out of the exhaust,probably unburned petrol mixed with carbon deposits. I'll say this once, IT HAS A GOOD SPARK, for all the people that will say to check the spark and it has good compression and all that. This only started recently. But I'm wondering why it keeps flooding, anyone have any ideas?
Nope the float is fine.
 
Check the reed valves.
A common problem wit that model is the exhaust gets clogged.
That would prevent the engine from running properly and accumulate oil in the muffler.
Remove the exhaust and blow into the muffler end - it should feel like there is nothing there.
If it's clogged, it will be hard to blow through.
2 stroke engines can give false compression readings.
While the pipe is off, look into the exhaust port with a flash light and mirror.
If you see any scoring on the piston and cylinder wall, or dis-coloration below the rings, the top end will need to be rebuilt.
 
if its flooding then the float in your carb is stuck down which allows the gas to keep pouring in the engine. which is mixing with the oil and going out the tail pipe. clean your carb and change the oil.
 
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