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Probably a valve. Question: what kind of spark plug are you using? Many years ago, people were installing multi prong iridium plugs. Sounds good until the iridium tips burned off and got lodged between the valve and head and stayed there!
Pull the injector wires off the dead cylinder, the fuel is washing the oil off the rings causing it to leak gasoline into the sump. Then add a tablespoon of oil to the cylinder, wait a minute to let the oil get to the rings, and then re-try the compression. If there is no change, then the valve is bummed.
You can still 'drive' the car if you also unclip the coil wires. No spark and no fuel to #1. But your car will need a 'head job'.
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Keeping it running is better than buying new
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