Front Suspension Question

The Yamaha Fizzer 250 I just picked up has an abnormal amount of softness about its front end. IE: Lean it back off the side stand and under its own weight it drops 30mm. it doesn't appear to show any signs of damping either - front end like a pogo stick.
Question is, and I intended to do it anyway, will replacing the oil stiffen up the front end entirely and could it be because the levels are low that it behaves this way? I cracked the bleed screw at the bottom of the fork leg and got a sample which appears not to contain moisture - just more of a thin used oil. From what I can see the fork seals are not leaking.
Replacing the oil - which probably has never been done since it left the factory 18 years ago - will no doubt improve the dampening properties but will it actually improve such things as the sag I am experiencing?
Any ideas or debates welcome as I have never had much to do with rebuilding front suspension. I know how it works but I have never experienced sittuations when it hasn't, if you know what I mean?
Question is, and I intended to do it anyway, will replacing the oil stiffen up the front end entirely and could it be because the levels are low that it behaves this way? I cracked the bleed screw at the bottom of the fork leg and got a sample which appears not to contain moisture - just more of a thin used oil. From what I can see the fork seals are not leaking.
Replacing the oil - which probably has never been done since it left the factory 18 years ago - will no doubt improve the dampening properties but will it actually improve such things as the sag I am experiencing?
Any ideas or debates welcome as I have never had much to do with rebuilding front suspension. I know how it works but I have never experienced sittuations when it hasn't, if you know what I mean?