Hi
The oil is stored in the crankcase, if the bike has been lying up for 12 months i would do an oil and filter change,drain the fuel from the petrol tank and from the carb float bowls and replace with nice new petrol,charge up the battery(or relpace if not turning the bike over fast),make sure the air filter is bone dry and clean,and give the spark plugs a check(replace if necessary). after doing all this the bike should fire up and run.
Busa Boy, April 2008