You're saying that a water/oil mixture is coming out of your pcv valve, correct? If so - sounds like you have a cracked head/possibly cracked block. If you can perform a compression test on the cylinders with a compression gauge - you should be able to see if you have a crack. If you can verify that you either do or do not have proper compression in the engine - I can go further with you -
Answers & Comments
You're saying that a water/oil mixture is coming out of your pcv valve, correct? If so - sounds like you have a cracked head/possibly cracked block. If you can perform a compression test on the cylinders with a compression gauge - you should be able to see if you have a crack. If you can verify that you either do or do not have proper compression in the engine - I can go further with you -
All The Best, Justin Lee
17 South Industries, LLC