It really depends on the oil you use. As an example, Amsoil makes a synthetic two cycle oil that is designed to be mixed at 100:1 with gasoline, and I use it at 84:1 in gasoline engined powered RC helicopters with great success.
If it's long enough, yes it will. To make sure, check the depth of the piston from the top of the spark plug hole when the piston is at top dead center. Then you can transfer that dimention to the spark plug and see if it will hit.