i am looking at the manual for a osp 5020L/ osp500L-g
G182 Machine Compound Fixed Cycle: boring (it is optional)
G74 Transverse Grooving Compound Fixed Cycle should be your drilling cycle
G74X0.Z-1.250D.375K.150L.375F.006
D=DEPTH OF CUT IN FEED AMOUNT
K= SHIFT AMOUNT IN Z AXIS
L= TOTAL IN FEED FOR WITHDRAWAL
N38 G0 Z6.5
N39 G182 X0. Z-25.056 R5. F75.
if there is no pecking then just use (this looks to be less than 3 times the dia. it may not need pecking)
G01 X0. Z-25.056 F75.
the G17 should be removed as you should be in x/z (g18)