Will modern sportbike engine fit in my 86 FJ1200 for street fighter?

[86FJNJ]

See arrow, this is where the holes are. I assumed they were not supposed to be there, they don't look like perfect little circles they are a little jagged and there is oil all over the heads so I thought it had blown the head. If these are drain holes I will try to think of some way I can thank you guys. Can somebody please confirm these are drain holes?

[fj1289]

Yes, those are the drain holes.

That's a good picture for orientation because it shows the plug wire routing and the air scoops.

The holes are somewhat jagged because they are simply left "as cast" vice being machined like other passages.

Oil is likely coming from the valve cover seal and the seals for the cam cover bolts.  Both easily replaced with the engine in the frame.  ***DO NOT*** over torque the valve cover bolts - they bottom out in cam caps and break if you try to over tighten them   

[86FJNJ]

added arrows