Ford 801 gas

I have a 1958 Ford 801 gas, started running rough from time to time, until one day it just quit, no smoke, no rattling, just as if you turned off the key. I checked spark, was god, I checked fuel was good, I decided to do a compression check and got the following readings. Dry test cylinder 1 82 psi, 2-62 psi, 3-60 psi, 4-70 psi. Wet 1-92 psi, 2-70 psi, 3-80 psi , 4-90 psi. I checked the radiator, no oil or gas in coolant, checked the oil, no water in oil. Had very little blow back from side vent when running, and no smoke, do I just need a ring job, or could it be a head gasket, or something else ???
 
numbers look pretty worn, but not at all a reason for it to just suddenly quit. Re check fuel and ignition.
 
If I squirt miracle oil,in the cylinders, it will run fo about 30 seconds, I as told that it requires 90'psi to run, so it has close to that until the oil burns out.
 
Interesting.

Compression is low but low compression will not cause a running engine to abruptly shut down. Either ignition problems or fuel starvation can.

My guess: "[M]iracle oil" is combustible and engine is running on snake oil until such oil is depleted. If so, your problem is fuel starvation.

What happens if you squirt engine oil into the cylinders?

Dean
 

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