tezza98_tnharris,
Your engine has points and as Grumpy said they are under the flywheel.
To remove the flywheel you can put a screwdriver under it and tap the side of the flywheel (not where the magnets are) at the same time applying pressure on the flywheel using the screwdriver and it should pop off. One other thing just spray the shaft with WD40 and let it soak for a while.
