Sounds like you have a broken timeing belt,there may be head damage all so,have the engine pressure checked to rule out head damage before replacing the belt.
The 2.3 engine is not an interference engine. Belt is likely broken.
http://www.motorweek.org/features/goss_garage/timing_belts2
The Motorweek article is interesting, but you do not need to worry cause your 2.3 is a SOHC and not a DOHC engine.
Engine turns over fan belt turns but the timing belt on my 1992 2.3l 4 cylinder does not turn/ rotate the camshaft
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