yes more than likely the valves out of adjustment.
This is a Courage 19, correct?
If you take the valve cover off to adjust them, watch this video. (
https://www.youtube.com/watch?v=FwD72Zvbxo8) These valve covers are VERY prone to oil leaks.
and i have seen the problem illengine described too. take the spark plug out and spin it over, see if it spins quicker