OROBBE Olive Compression test sound OK.
What
oil are you running, SAE and weight?
A leak down test is only going to show if you have a compreesion leak from the valves not sealing or rings.
Does the car have a PCV valve on the right valve cover??
Does it have good vacuum?? This is basic so hang in there.
My feelings are that the valve stem seals are broken or the spring came off the top of the seals. Have you over revving this motor?? Real easy to bend a valve.
Are the intake gaskets clear of the
oil return ports??
A partial block will over fill the heads and cause
oil to get sucked through the valve guides.
I think you are going to have to pull the heads and have them checked at a good machine shop.
Quick check, with the motor running, pull the PCV valve out of the valve cover and tell us if it looks like a smoke stack, puffing??
If so you have bad blowby and the oil rings may have collasped on the pistons. Talk to you later. Rick