true, the timing could be off causing the intake valve to be open during spark.
It could also be a piece of carbonized junk stuck between the valve's skirt and the valve seat, keeping the valve open at all timse.
It could also be a chipped valve or a chipped/broken valve seat.
It could also be the valve stem is so rusty it binds in the valve guide preventing full closure.
It could also be a broken valve spring - remember that the springs close the valves and the cam lobes push against this force.
Remember that gasoline is in vapor form by the time it reaches the combustion chamber (or should be at least) and it doesn't take much of a gap for the flame front to find it's way past either valve and into whatever is combustionable behind it.