Chad, I would think the very first thing you should confirm is that it does in fact have oil pressure. Hook a gauge up to it and confirm it has pressure. If you don't have a gauge, pull the sending unit and hold you finger over the hole, if it blows your finger off while you are holding it as hard as you can, your good.

Like rode stated, might be as simple as a loose wire or possible even a bad pressure switch.

Joe

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97' CBR600F3 Red, white & black