Here's what Ninja250.org says about it -
Leaking coolant pipe
After several valve adjustments, you could start to see a leak from the coolant pipe (the metal piece connected to the cylinder head). What does the coolant pipe leak have to do with the valve adjustment? You may rub the pipe a little each time you take off the cylinder head cover, as you try to wedge the cover out toward the right side of the bike. Putting the cover back rubs it a bit more. The rubbing might be enough to move the pipe ever so slightly side to side. This could be enough to allow a worn out O-ring to start leaking.
The O-ring alone is about $3 at Ron Ayers, or you can get one at a local hardware store. However, there is one that you can have for “free”. The oil filter comes with a small O-ring, which (at least in Fram filters, and should be in all of them) is the same size as the coolant pipe's O-ring. Since most people don't replace the small O-ring at every oil change, you can use one for this application, if needed.
Didn't realize the o-ring that came with with the oil filter was the same as the one on the coolant pipe. It's up to you - do it or leave it.
It's not a job that easily gets messed-up, so doing it doesn't involve a lot of risk. Just easier to do it now with the engine out IMO.
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