The reason your leaking down the barrel, is as was said, the hammer is resting against the valve.
As long as it doesnt leak when teh gun is cocked, tehn teh valve is good.
LPR-To turn this up, you have to rotate it clockwise.
Make sure that your inline reg pressure is OK.
When it fires (after cocking manually) does it sound like its firing properly?
You may find that the sear isnt catching the hammer quick enough when it re cocks..make sure battery is fresh.
You could also try adjusting teh hammer lug down a little.
The hole is just behind teh feedneck and I think it is a 3/32 allen wrench...if you take out teh bolt, cock teh gun, then push teh allen key down, it will disengage teh hammer an dtrap teh allen key infront of it.
Then you hold teh cocking rod...slowly pull up teh allen key and then let teh cocking rod in slightly, till teh allen key finds teh hole in teh top of teh hammer...then wind it in a quarter of a turn.
Proper adjustment of this is in teh eblade manual.
Make sure your inline pressure is high enough (around 325 psi at teh reg mount) 550-600 plus from your main tank.
Adjust LPR if required.
Cock gun before airing up.
Read teh manual.