As reported to the FAA. Reports are unverified, and codes are left as the FAA publishes them.
What was found
ON CLIMB-OUT, PILOT NOTICED LOW POWER. RETURNED TO AIRPORT. MAINTENANCE INSPECTION REVEALED BELOW MINIMUM VALVE TRAVELS FOR ALL INTAKE VALVES. REMOVED NR 1 CYLINDER. FOUND CAM LOBES SEVERELY WORN AND TAPPETS CORRODED AND WORN IN A CONCAVE MANNER. ENGINE REPAIRED BY SERVICE CENTER. REINSTALLED ON ACFT. ALL SYSTEMS OPS CK NORMAL.