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White smoke usually indicates coolant in the combustion chamber, most often due to a blown head gasket or leaking intake gasket.
The oil in the plug wells indicates the valve cover seals are leaking.
There's a fair chance you're going to need upper engine work, however, you're going to need to do a significant amount of additional detective work to determine the extent of the needed work.
Coolant system pressure and engine wet/dry compression checks (including leakdown) would be at the top of my list to evaluate the condition.
Steve
Steve
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1989 Taurus SHO What a project!
1997 Ford F150 SC 5.4L New Work Truck
1998 Ford Contour Wifey's daily driver
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