The fitting on the PTO side is for the factory fill of Isoflex grease for the PTO bearings and is now a vent. Do not use it. The 700 is not a rotary valve motor like the 670 and doesn't have a return line from the auxiliary shaft cavity in the crankcase. You will need to cap the original return line or use a injection oil reservoir fro a CK chassis.
There is three fittiings on the case the one close to the pto is capped but the next one is a .straight fitting and is hooked to the tank. and the next one is hooked to the fuel pump ? Is this correct and do I have to change oil resevoir. I have capped the bottom line on the oil tank of course not the line to the oil pump