Not good at all. you can overfill them with oil so look at that first. it should be 2mm up the window when cold.
it could be very rich on the carb but then you can tell fuel from oil right?
probably piston. if you're lucky the piston is worn and rocking, if unlucky it is piston and the nikasil liner is scratched up enough to need re-doing.
if very unlucky, the mains are going, spitting metal on the liner and the piston is grinding it into the wall and destructo.....
look at the valves while you are there. they usually aren't sealing cvorrectly. it won't be the valve seals - they are always 100% on a Husaberg.
Taffy