Its an older Picco, from around 2002, I used to have one of these. They came with the taller head. If you look at the webbing on the crankcase and compare it with the newer Piccos(Ofna JL) the newer ones have more webing. Check the link.

http://www.ofna.com/eng-jlr-red-dot-on-road.php

Its a decent motor, but it wont be able to compete with todays motors. If it runs just use it for practice until it blows up.