[musicsurfman]

Yes It Could Be A Headgasket Problem If Water Is In The Engine And You Are Losing Oil.

Condensation Is Normal Though And Sometimes It Collects And Drips Out Of The Tail Pipe.

Easiest Way To Tell Is:
Does The Water Level Go Down?
Does The Oil Level Go Down?
Is There Any Visible Leaks?

Also Water In The Cylinders Is Very Bad And You Will Probably Need A Rebuild Or Replacement.