sputing sound need advice

[Enso]

[http://www.youtube.com/watch?v=8etksYyRIM4]

Im hoping my comrades can giving me some advise to the sound of my motor
its been like this for a long time, i've reset the lifters and found no debris floating around in the valve covers
i plan to check the headstuds and do a leak down test soon
im thinking its a headstud thats lose and creating this sound leak
i also have a mild oil leak on the motor by the distributor

thanks for your help
glenn