Buring oil problems

I bought a 1994 grand Cherokee about two weeks ago, it has around 150,000 miles on it and i got it for 675 bucks, which i figured was a great dea. it has the v6 engine and the problem is, it burns oil bad :disappoin I'm adding atleast a quart a week and when i drive it, you can smell the oil buring. I can see that its leaking a bit from the valve cover, so i got a new gasket for that, but i dought thats the main problem... Does anyone know of anything it could be or things i could do to try and fix the problem or atleast make it better? Other then that, it seems to run fine. any help would be great, thanks

Is the oil burning through the engine & coming out the exhaust, or is it leaking from around the engine and dripping onto the exhaust pipe or manifold? I had some smoke and burning oil smells that came from the engine bay - it ended up being oil dripping from the oil filter housing, down the engine, onto the exhaust pipe before the catylitic converter. If you have oil dripping onto the ground when you're parked, try fixing the oil leaks.

If it's coming through the exhaust you could try adding a bottle of "No Leak / No-Smoke" oil additive (there are a few brands out there). This would be temporary, though. Someone else would know more about engines burning oil than I do.