If that is an accurate compression reading I wouldn’t be
surprised if the rings are missing. You can get rings from
Otto gas engine works.
http://www.ringspacers.com/ringcost.htm
Once these get so worn they don’t have enough compression
to run there is only a slim chance that just replacing the rings
will get them to run again. Last time I bought rings they were
$5.00 + $.50 shipping each so for only $11.00 its worth a shot in
my option.
Tubs.
A "Boathouse Repair" is one thats done without having tools or the skills to do it properly.