rover 45 1.6 weird smoking problem

i started my 45 up this morning drove about 1/4 of a mile and stopped at a junction the car then started to smoke out of the exhaust (oily smoke i think) and lost power managed to pull away and sat by the side of the road revving the car until the smoke had disapeared then turned car off checked oil and water all seemed ok no water present in the oil water level ok restarted the car and it seemed back to normal no temperature rise any ideas anyone as am not sure what it could be cheers tonyt

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