Quote Originally Posted by John_D
Red signifies low pressure. If the sensor was faulty or the level was low you would have a yellow oil light.
It sounds like there may be something serious going on. Personally I would get it looked at before driving it any further.
Does the light go away when you Rev the engine?

as far as i can remember yes it does go away when revving the engine , but comes back to a fast flicker when the revs die down to idle, it's never on when driving at normal speed
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Quote Originally Posted by nigzcurran
Oil level ok?

yes the oil level is perfect, thanks