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2004 Yamaha 150hp 4-stroke oil sensor light

Beckoning

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G3 (Yamaha) 18.5' boat with 2004 150hp 4-stroke Yamaha, less than 500 hrs. All ran perfect last year. Ran perfect on the trailer with hose connected to water supply. Put boat in the water, started with engine tilted up, then lowered the tilt. Ran great, but the oil level sensor light stays lit. Was it because I started it tilted? Oil is to the top of the dipstick "full" mark. Where is the oil pressure/level sensor located on the motor? The words above the indicator light aren't readable so I don't know if it is oil level or oil pressure. Ideas"
 
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