<HTML>!!!!! DO NOT RUN THE ENGINE WHEN IT'S NOT GETTING OIL !!!!!
You can adjust the oilpump by setting the length of the cable attached to the pump.
The oilcable is probably directly connected with the gascable so after resetting the length you should also reset the lenght at the carb. (well they were connected on my Honda MT50)
When you run the engine with the oilfeed loose, the engine wont be getting any lubrication and that will really kill any moving part in the engine.
Do not disconnect the oilfeed before the oilpump, there will be air in the feed and pump. When there's air in the pump it wont work, and it's a lot of trouble getting it right again. When you've disconnected the feed after the pump there will be air in this feed untill it's pushed out by the oil coming from the pump, this means the engine will have to run with very poor lubrication for a few minutes so let it run idle for about 10 minutes.
For adjusting the amount of oil in the mix, just set the cable.
By the way, I still think that youre problem is the feul/air-mix, try closing the airscrew (next to the throttlestop-screw) completely (not too tight) and then open it 450 degrees. (that's one full turn and one quarter of a turn). This should be the propper standard setting of the airscrew, the optimal setting wont be more than one quarter of a turn away.</HTML>