The only way to get a proper compression reading is with a warm engine. Typically you want to start the engine, let it get up to temperature and then do the compression check.
Obviously if it hasn't been started in eight years you should oil the cylinders and valvetrain before you crank it over to keep it from trashing anything. Was the engine a runner 8 years ago? if it was, I'd do a full tune up and oil change, squirt some oil down the cylinders and on the valvetrain and see if it will run. You'll probably have to run the fuel supply out of a gas can since the lines and tank are full of bad gas or are fouled completely.
If running it isn't an option you'll still need to oil the cylinders and valvetrain, but you won't be able to get an accurate compression reading. The rings don't seat the same cold as they do warm, and oiling the cylinders will help even worn out rings, giving you a false high reading. Once the oil works past the rings, the rings will still be cold, giving you a false low reading...
