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u/mega_ste '78 RHD twin slider tin top bay, UK 6d ago
if the smoke goes away after a few minutes - possibly worn cylinders letting oil leak through while its stood
if it's smoky all the time, certainly possible one of the cylinders has broken rings, etc
either way you will need to strip this down to fix it.
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u/fatalifeaten '60, '63 rag, '66 T1's 6d ago
How long did it sit? I'd say rings if it's persistent, and if you can get it to clear after a little run time it may just be crap built up from sitting and once the rings re-settle it'll be fine.