1991 Saturn SL2, 151k, Low Compression Cylinder 1, Car Jerks

Vehicle has 151,000+ miles on it (odometer stopped working). The vehicle idles hard. Brought it into the shop and ran computer test. Came back and showed only 50psi compression in cylinder 1, only got up to about 100psi with wet test when it should be around 150 for each cylinder. Recently while driving the car, it started jerking randomly, felt kinda like a very hard transmission slip. Now it does it fairly regularly. It also seems that it burns more oil than normal. I recently changed spark plug wires (original) and will change fuel filter. Was told it could be a valve problem or possibly timing chain set that needs to be changed. Any suggestions or similiar problems?