I think that may be an air cooled powerhead. It has a wobbler pump in the foot to help cool the midsection/lower but the poowerhead is air cooled.
That might have been in the era where mfgs were indicating that crazy ratios like 100/1 were OK….but if it were mine I’d run it on 16:1 or maybe 24:1….and use the air-cooled version of 2-stroke oil.
On this motor is there a high speed screw and a low speed screw? If so where are they located and what are the settings?
The carb is LMB 131 56 stamped on there as well.