Ok, ran a compression test tonight. Here is numbers
1. 120. 2. 130
3. 110. 4. 40
5. 120. 6. 120
7. 140. 8. 120

So I put aI tablespoon of oil in #4 and retested. Still at 40 psi. Does that mean rings or valve issue? All help appreciated.

 

Sounds more like valves to me. You might add a little more oil just in case it didn't cover the whole piston. Easy enough to blow it back out thru the spark plug hole.

If you have an air compressor get an adapter fitting so you can pressurize that cylinder thru the spark plug hole. Rotate that cylinder so piston is at TDC and pressurize it. Then listen thru the carb and at the tailpipe to see if you hear any air escaping. That will tell you if a valve is leaking, and whether it's intake or exhaust.

*edit* thought of something else. Remove the oil fill cap and listen there too. If you hear air hissing there you may have a broken ring or a hole in the piston, though that will usually give zero compression.