Ford transit engine problem?

Hi, I have a 06 ford transit pickup that I recently bought. When started its fine and as I rev it starts to smoke, I think it could be egr or a valve/ piston, because I had to reset the timing because it had jumped which could cause damage to the valves, without taking the whole engine off is there any way to know what the problem is?

If it didn't cause smoke before? Then odds are we have an issue caused by valve/rings. EGR can cause excess smoke as can a damaged injector nozzle.run a compression test on all cylinders and while injectors are out check nozzles for damage.
don't forget to check each cylinder dry first then with couple of eat spoons of engine oil added to a cylinder for a second test.
we're looking for mainly a balanced pressure and no more than 10% difference between highest and lowest compressions.
when oil is added.crank over few times to spread oil around rings before retesting.
pressure will rise on an oil injected cylinder versus 'dry' compressions. If NO increase is found when oil added? Its likely a valve(s) has been bent. This involves head off for examination and repairs.
we may simply be better served by having a garage check it all over for us and quote for repairs.

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