88 cadillace overheating

I just bought a 88 cadillac catera with 88,000 miles. It appeared in good shape and looked well-maintained. I drove it about 30 miles when the temp gauge started going up. It then started spewing out a tan colored
oil/water from the radiator resevoir.The radiator light also came on in the dash. The car seemes to have full power and runs smooth. I also noted the heater would not heat up. Is this a thermostat,radiator problem or worse.
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Blown head gasket, cracked cylinderhead or block.
Compression check will tell you the most likely cylinder(s) involved.
Overheating, coolant in the oil and / or oil in the coolant are the unmistakable symptoms.
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