^^^
definately don't ignore it. you check it out already? my bud's engine is on the stand right now because of a problem just like this. oil light would flash when temps were up but he had an oil leak and just added oil when it got low and assumed that was the problem. turns out we ended up putting new bearings in within 2 weeks and cleaned out the oil pickup which was clogged up with shavings. 2 more weeks later the engine has to come out because we didn't check out the oil pump at first and wrecked the new bearings. you can pick up an oil pressure gauge for under $30 at a local auto parts store or even in the automotive section of stores like walmart. cheap insurance for your engine

 

Same thing happpend to me; ended up being the pump..... guss how I came to find that out .

 

well its been going on for about 8 months now and there isnt even the slightest ammount of knock/weird noises

 

Knock:Engine failure as Oil lightiling problem

The first symptom only comes when you are already fucked.