First fix your possible air leaks or make sure you don't have any. It's no use fixing other problems when your bike is drowning in air.
And yes, it can be the condenser. It can be the primary coil that's fried, it can be the secondary coil that's fried, it can be the sparkplug.... You catch my drift. Check for spark when it dies. Also check for sparking between the points when it's running.
It can also be that your jetting is way off when your bike is actually on running temp.
And it doesn't need extra oil.