Small Engine Troubleshooting Problems? Ask a Mechanic Now.
Welcome to JUST ANSWER small engines, let me try to help you !! I don't know it all, but maybe together we can get you a satisfactory answer!
I think it has a sticking valve! Valve sticks, you loose compression, then after it cools for a few seconds ,valve closes and you have compression again.I would think valves need to be removed and guides ad stems checked. I see nothing that makes me think governor would do this.
I see question is still open, did you see my response?