'49' - I'm quite sure it's oil. I've taken the plugs out a few times and found them, if not wet, pretty damp with oil. Also, the smoke is sort of gray, certainly not white. It's probably the rings, but when I take care of that, I want to do a total rebuild. Because of the expense, I'm just trying to get through the summer. I did rebuild the carb, put in new points and tuned it just recently. I think I've done all I could regarding the gas side of things. Thanks for your input.