[eaa53]

Dan

There is something lost in translation here…. Also I think you have more then one problem.

Okay first, can you confirm that the engine is mounted in a car and was working before you started?
Second do I understand it correctly that you removed the head without removing the coolant?
Third you fitted this replacement head and then found these problems?

You do not get water (standing water) in the sump from a stuck valve! I assume you know the difference between water and petrol and it is water.

If it was petrol and the engine was turned over you would get weak oil not white mayo.

If it is assumed that you dropped water into the sump from the head removal then that is sorted by changing the oil and flushing through with fresh oil and replacing the oil again.

Did the engine try to fire at all? If it was only one cylinder faulty it would have fired on the other 3 and started although very lumpy.

How did you set the ignition timing and did you get the correct distributor lead to the correct cylinder plug?

The no compression issue; assuming the head was fitted down properly it could be tappet clearance or wrong valve timing. The valve timing is set at TDC with the notch on the crank pulley lined up with the pointer on the aluminium crank seal cover, and then the cam pulley pointer lined up with the spot on the head immediately below the cam shaft, viewed through the cam pulley usually with a mirror if it’s in the car.

I routinely mark all these pointers and dots with white point as I rebuild.

Now which bit did you not do?
Cold tappet clearances?
Setting the valve timing?
Ignition timing?

More information required I think before we can help further.