1994 Accord problems

[cbula592]

I have a 1994 Honda Accord LX Coupe automatic transmission. The car starts fine but after 15 minutes of driving, the check engine light comes on, the D on the dashboard flashes, there is a smell of oil, the engine starts smoking, and the car shuts off. When i opened the hood, all of the smoke was coming out of one cylinder. I let the car sit and took the valve out of that cylinder and there was liquid in there that squirted out. Only two cylinders had that liquid. At first I thought that i blew the head gasket but someone took a quick look at it and said it wasn't the head gasket and said something about a valve seal. Anyone have any idea what this could be?