Hey Great White North,
Before you tear into your Briggs engine to check out the rings, there's an easier thing to check first. At about this age, Briggs motors often suffer from a clogged Crankcase Breather Vent. This can cause oil to be sucked into the air cleaner and into the carburetor.
To check for this, take the air filter off and see if there's any oil in it.
If it looks something like this, then there's the problem.
View attachment 225723
The fix is much easier than a ring job. Locate and remove the Crankcase Breather Vent
(it's behind the muffler).
If it's clogged, it will look something like this:
View attachment 225724
Just replace it. But before bolting In a new one, inspect the valve spring chamber,
and use shop sir to blow out the little drain hole:
View attachment 225725
Good luck with it all, and post back to tell us how it went.