That low of compression is not a simple fix. You will need to do some serious diagnosis. But, I would prepare yourself for a major tear down. Sucky time of year to do it, but it's coming. Accept the inevitable

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Dave S.
Northeast
2003 4.6is
2005 E53 4.4
2003 E39 Msport(a REAL ONE!)
1959 Fiat 600