The guides are the tubes the valves go through. You should download a manual. They have all the specs and tell you how to service the motor. Can't be without it.
Go to RMATV and look up OEM parts for your quad. Have a look at the head and see the parts and pieces. If you have a machine shop do the work, they could put in new guides if needed. Not to regular to see worn guides in these things, IMO.
Are the rings bad? Then yes. Is the cylinder bad? Then yes. Seeing signs of blow buy past the rings to the piston top? Yes. The only way to know is to inspect it. It is often cheaper to get a cylinder kit then play around piecemeal. Then you know your clearances are correct, except for checking the ring gaps.
do a compression test first before dissasembling
if youre low on compression, pour some oil into the cylinder, retest, if improves compression then you have bad rings, if not you have compression going past your valves.
if you have good compression then the reason you have oil on valves is your valve seals.
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