Could very well be, however it could also be some of the following. Since the maintenance history of your bike is unknown I would look at doing the following.
- check valve clearances, adjust if necessary
- inspect/clean/sync carbs
- change spark plugs
- inspect fuel hoses/filter, seals, gaskets (including that recently changed head gasket) for leaks
- inspect petcock and gas tank
- check ignition timing
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