Disco 1 V8 overfueling wont start

Dear All, i have a disco 1 3.5 V8, about 3 weeks ago i jumped into it and turned the key, it spun over great but wouldnt fire up, big petrol smell, even coming through the joints in the downpipe! RAC got it statred after ages, but wouldnt tick over, then wouldnt re-start. recovered to garage, the oil sump was full of petrol and the plugs soaked, replaced plugs / replaced oil, got it running, collected it, drove home, then went out to pick up kids from school, fine, next morning, same again, wouldnt start, drowned itself in petrol, and i mean drowned!!!!!!! it was towed for 2 miles in gear before it fired up. Now my mechanic says the petrol has washed the oil out of the bores and it has lost compression, so another oil change to try and get the bores to seal so we can get it to fire up hopefully. Were scratching our heads a bit as it was fine before, all summer. Anyone got any ideas, its a shame as its a lovely truck, thanks.

There are several answers to this on the v8 section.