Smoky Dead Rumble Bee

[HolySmoke]

So I acquired a 2004 rumble bee 275000km
Over some farmer trading, I drove it all winter and it seemed fine with the exception of a couple cold starts and it idling funny and dying, but I neglected to plug it in those times cold Canadian winters cause grief so that's what I put it off to be.
But now the real problem, it's warmed up and in noticing it smokes a little blue, and I can smell what I think is burning oil, it has high km so that didn't really concern me.
The smoke seemed to get worse the last couple days and then the truck sputtered and stalled while I was sitting at a red light, the truck will fire now but will not run. I have no service history on this thing what so ever.
I need some help or starting points, I'm not a mechanic but I'm not stupid either, I can be talked/walked through anything.
Thanks

 

[HemiLonestar]

Over 175,000 miles, might just be time for a rebuild, especially if it was flogged for any portion of it's life. If you get the heads redone, you'll want fresh rings as well.

 

[Harley Harrold]

 

[MegaMouseGW]

Rebuild time. Could be the rings failing which means a total rebuild. Not use in tearing the engine down just to replace rings. Might as well get a decent kit to do the whole rebuild.

 

[WhiteExpress]

I would tend to agree that your engine is likely in need of a rebuild.
Sure, you might be able to 'solve' the oil burning issue with new valve seals or similar, but if those are worn, the odds the rest of the engine is worn is pretty high.