My compression tester arrived today, so I did a test. The results are pretty conclusive. First test on a cold engine with a wide open throttle showed 142psi on the front cylinder and only 42psi on the rear!
I then squirted some oil into the bores and did the test again and got 185psi on the front and 178psi on the rear.
Looks like it can only be the rings. I've dropped the oil and poured in half a bottle of Redex into the back cylinder that I had lying in the garage. Fingers crossed!
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