Strange Problem

[pocoapoco]

I have stumbled upon this great forum in search of the answers to a recent problem I am having with my 92 LS. I've had it for more than a year and all have been perfectly fine until yesterday. When i tried to start it, it wouldn't stay on. There is a knocking noise from under the hood. It felt as if the engine is drowning and just struggling to stay on. After struggling for a minute, it goes off. There were alot of water coming out of the exhaust. After a lot of frustration, i started it while pressing down the gas pedal and the tachometer got to 3. It started this time and stayed on and ran as normal. This was after a more water has come out of the exhaust. I thought all is fine that maybe someone intentionally put some water into the exhaust. I drove the car home it it was all back to normal. Today i tried to start it again and its giving me exactly the same problem with water coming out of the exhaust. And there was a lot of white smoke when starting it and i can smell petrol. Guys, any reply to point me to the right direction would be greatly appreciated. I don't have a clue what might be wrong.

[highlander]

poco a poco?? que interesante...

watch out the engine's oil is not contaminated with water AND or the intake...

It could be MANY Things...

[pocoapoco]

poco a poco?? que interesante...

watch out the engine's oil is not contaminated with water AND or the intake...

It could be MANY Things...

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Thanks for the suggestion Highlander.

I'll add that to the check list.

Can I just add that the problem seems to occur when the car is cold. Once I can get it to start and it gets warm, everything runs fine. Even if I put it off and start it again, it starts as normal. Lastly, it seems it is the coolant that is coming out of the exhaust because the level seems to have dropped a bit. This is yet to be confirmed though.