2008 Mini Cooper Base won't rev past 1500rpm

[dathan-alley]

Where to begin. I got this car as a cranks but no start. The guy who I bought it from had JUST replaced the crankshaft seal, but didn't tighten the crankshaft pulley bolt tight enough. The timing chain sprocket at the crankshaft was loose and not turning when trying to turn the engine over. I reset the timing. And after I did that it started. But it won't rev past 1500rpm. I can start it fine each and every time. It idles at around 1000rpm, but does spike down a little every now and then. But if I press on the gas, it will only rev up to 1500rpm and kindof shake back and forth between 1000 and 1500rpm. It doesn't matter if I am in park or drive. Speaking of drive, it will drive, just as long as I don't go over about 1300-1500 rpm. If I punch the pedal to the floor in drive, it will spike up to 1500rpm, and then back to 1000rpm just like when it is in park, which leaves the car lunging back and forth.

Please help!

P.S. - I have checked compression and get the following results:
Cylinder #1 had an average of 126.5psi, #2 had 115psi, #3 had 123psi, and #4 had 138psi.
Then I did a compression test with putting a couple teaspoons of oil in each cylinder and got the following results:
Cylinder #1 was 187psi, # 2 was 190psi, #3 was 180psi, #4 was 183psi.

[996AE]

What does code reader say?

Sounds like limp mode has been tripped