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biltonjim wrote: It certainly won't be "no oil in the tappets" as these are not hydraulic tappets.

if the valves were stuck open you might have forced them together by turning it over .

First things first.

Remove the timing cover plate off of the crank with the valve cover removed. Verify that the top and bottom-end of the engine is in time

Some droplets of oil down the cylinders would be a good thing when manually turning over an engine that has been stored for years.

Don't know if you have the updated tensioner but make sure you have it before placing this engine back into service.

I would be very cautious about getting running an engine that has been sitting for 16 years.
There will be rust in some of the bores and probably corrosion around the pistons and rings. All you will do is do more harm than good.
It is quite likely the valves have stuck open a bit after turning it over and if that is the case it is very likely to spit a shim out as soon as it fires and that is an expensive thing to fix.
If there is rust in any of the bores that bore and piston will tear itself to pieces.
The right and cheapest way to handle this is to remove the engine and dismantle it for inspection and if there is nothing wrong then all that it will cost is a gasket set and maybe rings and a hone.
Parts for these critters are hard to get now so don't contribute to the problem by damaging even more of them.

Okay good. Find yourself a shot glass (universal measurement) dosen't matter where you are a shot's a shot. A small funnel and a can of automatic transmission fluid any type. Add one shot to each cylinder and let sit for 48 hours do not crank the engine. this will allow the rings to free up and reseal. crank the engine over a few times to expel the excess trans fluid and recheck compression. This has worked for me many times over the past 42 years.
Good luck; Danny

latest update all the inlet valve are stuck open !!!!!!!!!!!! cams are out now so the head is next but was wondering why they are all stuck open on the inlet side only???????????????with the head off probably get the barrels off for a look aswell poss do a big bore job

ive now found out why the last owner sold it back to me as a NON runner 6 bent inlet valves = no compression let the work begin