Troy Bilt Help

Hi all, new member looking for some help. Have a Troy Bilt pony that's about 5 years old. The other day I went out to cut grass and it wouldn't start. Thought it might be a fuel issue so I pulled the fuel hose off the top of the engine. Cranked it and it caught immediately but spit out a ton of gas and oil through the port where the fuel hose was attached. Checked the oil indicator and what drips off the end is black but the consistency of gas. Added more oil and tried again. Same thing, spits out lots of gas/oil but fires up and runs. Attach the fuel hose and it won't run at all. Won't hold the oil either, seems to immediately disappear. I know nothing about these engines but I'm assuming this is a major problem? Any help would be very appreciated.

Thanks
Jason

Troy Bilt Help