Dont panic viragos do that...it is an oil level light not a low pressure warning.the sensor is on the left so on a right hander the oil runs away from the sensor putting the liht on. you will find it may happen on long steep hills as well
I like this reply best! Good man!
Having now looked at the wiring diagram the switch for the warning light is indeed refered to as an "Oil Level Switch". I suppose if there is no oil pressure switch/ warning light then we simply have to play it by ear and listen for the death rattle of knocking and banging to know when it's running without presure (but by that time it's too late of course).
Thanks Rob.