Any ideas what this noise could be !!!!

[woodwizzard]

May well be a completly normal noise. As you are new to the bike you will get used to how it sounds. I have only had mine a couple of weeks and the accoustics of this bike are very different to my previous bike. The kwak I had before was all engine and induction roar. The fazer is very quiet engine wise and all I hear are the chain and sprockets.
If worried about it, better getting a second opinion from someone in the flesh.