1983 KZ750N exhaust smoking

My 1983 KZ750N exhaust is smoking a lot. After about an hours worth of driving it’s bellowing. I check the oil level and it’s good but I’m trying to figure out where does the smoke come from? After the top end blew a lot of oil got on my exhaust wrap. But it’s not smoking from just the oil spots the entire upper header is smoking it’s got new rings new valve seals head gasket and cylinder head gasket
No oil leaks in the outside of the engine that I can see.

Any help would be greatly appreciated.