Not even close- - - -a blown head gasket between adjacent cylinders causes either no or very low compression readings for both cylinders. 105 to 120 is almost within limits (10% between cylinders). I'm going to guess you've either got a tight valve adjustment or a slightly leaky valve on #1. Always do a valve adjustment first before checking compression and then warm the engine up fully first. If you get similar compression readings on a hot engine with properly-adjusted valves, then do a cylinder leakdown test to figure out where the compression is going.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
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