Yes it is a 1/2A engine

The engine will run in either direction with equal vigor

The reed valve is at the rear of the the crankcase behind the crankshaft. It is held in place by a spring type cir-clip. Remove and clean well. Install the reed with the opposite side out as to which you found it. (Turn it over) They get sprung and cease to seal. Then you turn them over and they are good again.