So I got the stock D15B2 engine in my '91 civic DX hatch that I just bought as a project.
When I try to turn it over, it cranks but will not start. I pulled the spark plugs and tested them, they do spark nice and they are new as is the battery. However, there is a lot of oil inside two of the ports. It smells like there is gas in there, and I can hear the fuel pump going, so I don't believe it is an issue with the fuel or spark. That leaves air, timing and compression left. Now air I believe is not going to be an issue, but I'll still throw that out there...
When I'm cranking it I can hear pressure out the exhaust pipe, I'm not sure if that is a good or bad thing.

There is what looks to be oil leaking out the head gasket, so I have reason to believe there is a blown head gasket. Does this sound right?

So what should I do next to get this thing going? Its going to be my girlfriends car, and I would like it if there was some umph to it for her to enjoy.

I work for Burger King and I'm a college student, so please keep money in mind. I bought the car for $200, and I'm looking to not spend more then a grand total by the time its done. Also, it has 219k miles on it and its 100% stock.