Will this engine still run?

Pistons create compression that then gets ignited, In a closed cylinder that forces the piston down which rotates the drive shaft. With a hole in it, you don't get enough compression to force the piston down, it just blows out the hole and your engine doesn't run. For example, you can still sometimes breath when you get a hole shot into a lung (Pneumothorax) (sucking chest wound), but the lung quickly collapes. In your case, fire will shoot out the hole, probably igniting the gas or oil. That creates a sound similar to this: https://www.youtube.com/watch?v=iWtohHwN...