hi everyone, first time poster here and im not real familiar with volvo so im hoping you guys can help out here.
my father has a 2001 awd v70 with the turbo 2.4 and has ran great minus the angle drive deal until recently. currently due for an oil change for 100 miles. he went up camping the other day and when he got there he noticed his coolant cap gone. refilled coolant, jimmied up a cap, and he headed down the mountain. began to get a little hot on the gauge so he pulled over made a new cap refilled system and it warmed up again but not as hot then he says it started ticking with increasing speed until the engine quit. the only code it throws is coolant temp sensor. it still turns over, gets spark and fuel but theres no compression. the last cylinder has 60 psi but the rest have no more then 5 dry, the first cyl went from 3 dry to 30 wet. when i pulled the pugs they were soaked in gas so im kinda lost. cylinder washout maybe?, head warp or gasket? the ticking worries me iam pretty sure im going to have to tear into. sorry for the long post, thanks in advance

 

Sorry to be the bearer of bad news but sounds like the timing belt just let go; at a minimum you're looking at a top-end OH on the engine.

 

If it's full of gas in the spark plug chambers, pull the plugs and let the chambers dry out, probably overnight. Once dried out it may start. But like GDog stated, pull the timing belt cover and see if the bet is on tight. The coolant system runs under such pressure I wouldn't try starting it without a real cap. I'm not sure what kind of problems that will cause.