What would cause oil in the Radiator?
 

So I just picked up this 1985 toyota truck with a 22re, While I was looking in the radiator I saw oil floating at the top of it? But the funny thing is I did a compression check and got 195psi across all four. Do you guys think this is engine is still good? My plan is to part this truck out, and I wanted to sell the engine since it has such good compression, and it runs great! Im just trying to figure out how the oil got in the radiator? It cant be the head or head gasket, becasue it has really good compression. What do you guys think? Thanks.

Could be a hole in the timing cover if not a headgasket.

It just seems wierd that it would be a head gasket, since my compression numbers are so strong they are like right around 200psi, as soon as I pull the engine and take the timing cover off will it be pretty easy to notice oil coming from there when i am looking? Thanks.

could be left over from someone else doing a headgasket on it previously

If you pull the valve cover off, you should be able tp look down on the exhaust side of the head and see if there are grooves work in the head and timing cover from the timong chain.
The cover has a spot by the water pump that gets worn through.

I will have to do that, THanks.

Have you guys seen oil in your radiators before from a timing chain? thanks.

If it's has an automatic transmission, it could be transmission fluid bleeding in from the lower radiator transmission cooler portion of the radiator.

Lots of people have. Was the water level low or was the oil very high/low? The oil cap on valve cover look like a chocolate milk shake in it? All signs of water mixing with the oil.