Yeah the oil light should blink when the engine isnt turning over, The temp light should flash a couple of times before going out (this is the one you think is a fuel one I bet)
It just so happens that ive still got my old CL clocks complete with all 4 of the red LED's: left to right, 1) is battery 2) is oil 3) is coolant temp 4) is braking system and handbrake.

But the oil light going out aint right. So yes I would assume oil pressure sensor failure. I would guess its the high pressure sensor as the buzzer only comes on when you rev it doesnt it? (assuming you have 2 sensors that is)


