That is what is called in the USA a "Catastrophic Failure", Usually much cheaper to replace the whole engine. Rather then to try, and repair what you have. I'll let someone on your side of the pond, give you advice on price, versus cost. As it would be very different from ours. Good Luck.

Jack

 

 

 

Not sure what exactly is in that area but the only thing in the engine capable of punching through the block like that is part of the rotating mass probably a connecting rod. The engine is toast. It is either a used engine or sell the car for scrap and get another. As old as it is I would not even consider putting a dime into it. Sell it and move on.

 

This engine cannot be repaired, as it is likely that connecting rod punched a hole in the block. This means pretty much anything connected to that cylinder (top and bottom) is damaged or destroyed.

Did you ever hear any rattling or knocking noises prior to this failure? It is uncommon for this to just suddenly happen, unless there was extreme over-rev or complete loss of oil pressure. Speaking of oil pressure, for a hole this big I don't see any signs of oil. When you coasted to a stop, was there a pool of oil under the car? If not, where did it go?