Help - Headgasket gone?

[billabong]

I was driving down the motorway the other afternoon when I suddenly lost boost power.
Seconds later a loud purring sound came from the engine bay, I started to slow down and pull over but the purring turned into more of a tick with occasional knock noise. Then the engine stopped dead, I took it out of gear and rolled to a stop on the hard shoulder.
The AA towed me home.
When I got it home I checked the cam belt which appears fine, no slack etc.
The oil level, which was checked at the weekend was about 5 times higher than it should be and there was no water in the coolant reservoir.
I took off the elbow pipe that goes into the inlet manifold, the inside of the pipe was lined with oil and mayo type (watery) substance.
Does this sound like a headgasket failure? Is it likely to have caused problems lower down in the engine?
What are my options?
Engine code is ALH.

Ta

[scarr89]

New engine 

[Luke1981]

Sorry to hear this mate but your engine sounds fcuked. Depending on the value of the car I would start breaking it for parts or scrap it

[EsSeX dAn]

plonk a new enine in fella, sounds like it went between the oilway and waterway. better to put a bee engine in, your one will have heat seized, possibly causing bearing damage an all sorts. check the turbo is ok before putting a new engine in though. youll get an alh engine cheap enough

[billabong]

If I pick up an engine this week, what would you recommend I do before putting it in the car? Timing belt?
This engine has only been in a month after the belt went on my old engine. Gutted..

[EsSeX dAn]

new timing belt kit and waterpump. unless theres proof of when it was done and wont want doing again for a while. also maybe the clutch and thrust bearing while the box is off and if the sual mass flywheel was playing up atall swap it out