engine oil leak questions....

[71biggreenk10]

ok, so I've had a whitish greyish colored smoke coming out of the passenger side exaust pipe. I am running a true dual exhaust set up so it's obviously coming from the passenger bank of the engine. It can sometimes be slightly tricky telling if the smoke was white or grey/blue, so I pulled the spark plugs today to see if there was any oil on the plugs or on the threads. Well it's definitely oil, and not water being burned in my engine. The last plug (closest to the firewall) still had oil on it, like dripping off when I pulled that plug. I then pulled the valve cover on the passenger side, and one of my rocker arms had broken, the pushrod is still straight, and the spring/valve still works. If that valve isn't working due to the broken rocker arm, could that cause an oil leak? Or am I still back at square one, and probably have bad piston rings?