White smoke is an indication of a leaking head gasket. The fact that you have low compression indicates a failure in that cylinder. The head will have to come off anyway. At that time it can be determined if the head or the gasket is the cause.
As far as the blue, which is oil burning, it may be rings which will indicate once the head is off, it would be wise to replace the piston rings as well.
Roy
Tuesday, March 13th, 2018 AT 2:47 AM