Chrysler m46 oil leak

[ocitsalocs]

I have a Chrysler m46 in my Chris craft and I'm having oil issues. I have a lot of oil leaking out of the exhaust pipe while running. I do have good oil pressure. I did a compression test and found that all cylinders have between 70 to 110 lbs of compression. The engine will run with full choke on but when I take it out of choke the engine will race out of control to a much higher rpm. I took the head of yesterday and inspected the gasket and cylinder walls. I also poured some marvel mystery oil down and let it soak down to the rings. I am at a loss for what could be causing this problem. Any suggestions would be great appreciated. The engine will start quite easily with a turn of the key.

 

[Grub54891]

Re: Chrysler m46 oil leak

Between 110 and 70. Sounds like rings,should have done a wet test,put a bit of oil in the cylinder after ya done the dry test, if the pressure goes up,rings,if not valves.compression should be within 10%.
Grub