My Car is a 97 Grand Prix GTP, w/ 3800 series II superchaged. It overheats real quick, and when you give it some gas it lowers the heat a little and then it rises right back up. I have to bleed the t-stat constantly and air will extract from there for about 7-10 mins straight, even after only a few mins of running. Also there seems to be oil or some kind of residue in the reserve tank along with the coolant. There is steam releasing also from the rear or the engine, and smells like something is burning. It was running fine, then my oil level was low, and it just kept overheating. Any help would be greatly appreciated. Thanks,
** My car also was starting to overheat when my oil was low before my previous oil change, and after the oil change it was fine**
sorry if this help section was already posted, i've been searching for ever!

It sounds like you have a blown head gasket to me. That would account for the steam from the back of the engine, the rapid cooling system air intrusion, and rapid overheating.

Ok thank you very much!

Ewww blown head gaskets are no good. But try to check where the steam is coming from. Just last Friday I had a problem very similar to yours. I drove my car about a mile to work (car was sitting in the garage all night) and by the time I got there my temp gauge was at like 210 and steam was coming out. Turns out it was just a hole in one of my hoses to the heater core (idk if that's the real name of it is, it's what my dad was calling it tho). I'm just saying this cuz you said rear "or" engine so if you really meant "or" instead of "of" you might want to check one of those 2 hoses to see if there isn't a leak there. I could be totally wrong tho, just a thought.