VT blows white or bluish white smoke?

[mozza92]

Hi, my VT commodore blows white or bluish white smoke when we rev it quickly more than when idling and also when itis reved and then quick deceleration, seems like it has tiny amount when idling. also when i reverse it up the driveway it seems sluggish or not smooth? and what i could describe as maybe bubbly like it's cold and bumpy? sort of thing. have checked compression, think it's fine. haven't replaced the tappet cover gaskets yet, not sure if this would cause it. water sometimes? comes out the exaust as well. the smoke isn't like really thick, but is noticable (don't think it would pass road worthy like that). does anyone know what might be wrong with it?, could it just need a tune?. Thanks!

First 2 (untitled, untitled1) photos when it started up, as or just after?.
photos 3 & 4 (untitled3, untitled4) when reved or deceleration?.

 

[commodore665]

possibly piston rings or valve stem seals may have had it , have someone follow you when you go for a drive and get them to check if the smoke is as you have described.

 

[mozza92]

possibly piston rings or valve stem seals may have had it , have someone follow you when you go for a drive and get them to check if the smoke is as you have described.

where abouts are the valve stem seals?

 

[commodore665]

they are inside the head , the stems of the valves , which open and close to allow air in and exhaust gases out .