You are correct in your analysis however it also shows a problem.

at 15 ATDC the pointer should be exactly in the middle of the port. If not then the chain is bad or the pump was mistimed or if your car has a moveable TDC pointer on the block - it has been incorrectly installed.

__________________
2012 BMW X5 (Beef + Granite suspension model)

1995 E300D - The original humming machine (consumed by Flood 2017)
2000 E320 - The evolution (consumed by flood 2017)