Hello, budsontwo. Glad you decided to join our forum. I am moving this to the small engine repair section for better exposure to get you the correct answer. You will probably have the info within the hour. Enjoy your visits!
The points mount to the left of the fuel pump. There should be at least 5 holes there. Two to mount the points two to mount the cover and one for the plunger which will be between the two holes for the points. The plunger will not have threads in it and the rest will.
If it didnt have points new, I dont think the provisions are there for them, probably ust be a flat solid section of block.
This is a K181, little smaller, same points.
Outer 2 holes are for the cover, inner 2 are for the points, the one in the center is for the plunger. If the hole is open, oil comes out..so either your hole was never drilled or there is a plug, id say no hole is more likely.