Try spraying wd40 near the flywheel with the cover off, it could be the left hand side crank seal gone, if it races when you spray, you can be pretty much certain it is.
I think you have got that back to front there Nev mate, if you spray WD into the flywheel and the engine settles down to a good idle your sucking air into the crank so its a sure sign the seals need changing on both sides not just the left, thats the only side you can check easy. The WD seals the leak for a second or so hence the good idle for a few secs.
Checking for crank seal leaks Magneto side, remove cover start engine and spray WD40 through slots in flywheel aiming the jet toward the seal, listen for a change in tone or engine speed.
Clutch side, place the transmission case breather pipe in a jar with some white spirit in, Start the engine and look for bubbles or for the fluid being drawn up the pipe
sold it couldnt realy be botherd to put any more time in to this one 0 spent and made a good ptofit so all good .. she should make the new owner a good bike