oil an water in intake tube means what exactly?

[trailblazer sss]

Here's a quick rundown thought I had a bad intercooler lower intake was full of water so I changed everything blah blah etc. Finish the car up a few min ago start it up sounds fine revs fine perfect. Go drive it maybe 1 mile kinda sputters so I turn around gave it some gas an it started hesitating come back pull in the shop kill it an pull the oil fill cap she's smoking pull the dip stick no water in the oil like last time but smoking out the hole walk around the car an happen to find a puddle of water an oil mixed coming out of the high boost intake I may be wrong here but sounds like a blowed head gasket what do y'all think. It's a 03 with basic bolt ons now going back sorta stock to sell it. Has 90k miles on it. All this started after a hard freeze back around jan. Got down to 5 degrees where I live in Louisiana.

 

[Avispa]

It's a blown head gasket at least. You may have a lot worse if the coolant froze in the block last winter, like one or more cracked cylinders or a craked head.

 

[Venomous 03]

So your getting alot of smoke out of the oil fill cap,sputters while driving,water and oil coming out of your intake.

How long was the water in the intake for?
My guess would be that ur engine might have sucked in some coolant,it sat on the culinders for a bit,seized up your rings,that would explain the excessive blow by coming from the oil fill and lack of power.cracked cylinder would make sense,or the headgasket,but your no mixing oil and coolant,and your not burning them either.check your coolant for oil and do a compression test.