If it was blowing thick blue smoke I would worry a little more. Have you got a head gasket problem maybe? Those more knowledge than I will come in with their opinions :worthy: :worthy:
Bernard,
Donegal Cub.
Welcome to the forum. I would do some diagnostic testing before considering a rebuild, starting with a compression test .
It is my guess that you have a leaking head gasket .
Could be a simple/cheap fix now. Might be a more complicated and expensive fix later, when "something happens." And "something" will happen at the most inopportune time.