Hey JerBear!
Yep, there's a small plastic fitting on the choke cable with a flip up cap on it where you can oil the choke. If you were you, I'd pull the whole choke cable out flush the housing with triflow or another light lube and put it back together. There's a bunch of 35 year old thick crud in them. That's from experience- mine froze tight this winter!
JerBear, what exactly is the problem? Is it difficult to move in or out for its full length, or does it seem to be hanging up? Does it seem to have too much "cushion" (spring) when being returned to the closed position?
Check to make sure there is a spring at the front that goes from the engine tin to the front carb choke plate. It helps pull the cable back to the off position. Mine broke.
I also pulled the inner cable all the way out, cleaned it up and lubed the heck out it. Much smoother now.
It was hard to pull out and wouldn't go back all the way - I sprayed some wd 40 for a bit yesterday and it's way better , but I will pull it later this week.