hey guys o am new to the site and just needing some opinions. I have a 1998 mustang 4.6 sohc. O have had a ticking noise for awhile and I just let it go thinking it was no big deal and last week I was cruising about 80 and all of a sudden I lost all horsepower and heard this very loud banging noise. I only lost power for a split second but now the low ticking has turned into a lout clanging noise. I used a screwdriver and determined it was coming from around the front side of the right of the motor. I did a compression test and all cylinders held 150-155 lbs. Except number 1 which held 135. I also have white smoke from tailpipes. I started tearing the motor down and I got the timing cover off last night no broken guides or chains to speak of all rockers/valves look good. What is going on?