Low Oil Pressure Alarm with inconsistent gauge

[pet575]

So this morning I was driving my vehicle and after about a mile my info center gave me "LOW OIL PRESSURE" alarm, red light for Low Oil, and the needle gauge bottomed out. Then it went back to normal, the lights/warnings went off, and about 90 seconds later it came back and stayed on.

I pulled over and checked the oil. It was a little low so I added a quart just in case and moved on. When you turn the ignition off, everything resets to normal with no warnings. Then the same thing will happen again and the needle gauge will occasionally bounce back to normal and then bottom out again.

No visible oil leak or oil is being lost so far as I can tell. After adding the quart of oil the level was normal. The engine temp is staying right at the same level as always (at least judging by the needle gauge) so I'm of the thinking that I've got an issue with the sensor/sender for this gauge.

Seems to me that if an oil pump or other component were failing to cause an actual loss of oil pressure, I'd either see some performance difference or I would see the engine temps heat up. The oil is not milky and the coolant does not appear to have any oil in it.

Anyone disagree with my thinking with what is known right now?
Is there something I'm overlooking?

 

[FordFool2]

The oil pressure sender is really an oil pressure switch. When above 5 psig, we get midscale on the gauge. Below 5 psig, we get the gauge to drop out and check gauge light comes on. I have experienced a bad sender. Replace it at your first opportunity.

 

[pet575]

Thanks. Anyone know about where it is located on a 4.6 V8?

 

[FordFool2]

It's located drivers side low on engine near oil filter.