Re: check oil light
Before you have a heart attack. The "check oil" light normally comes on if you have to much or to little oil. This does NOT mean you have a clogged pick up screen or bad oil pressure. You said your oil gauge is working. Even if it is or is not working, first thing you need to do is get a proper reading of your oil level. You said that it has the right amount of oil in it, but your dip stick tube is broken. So really you dont know.
Replace the dip stick tube. Check oil. Add or drain accordingly.
If your light is still on, next check your oil pressure by, by-passing the in dash gauge with a mechanical one. Simply locate your oil pressure sensor, remove it and hook up the mechanical gauge there. If your oil pressure is low, then you know you need to move to the next step.
Check your oil filter. If its clogged, replace it. Check gauge again. If your oil filer is fine, move on to dropping the oil pan and look at the pick up screen. Clean it if it is clogged, but usually if you are in this far, it is best to just replace the oil pump as they can get sloppy over time and will cause a loss in pressure.
Always check the most common, easiest and most often failed stuff first. Just like in math. Order of operations. No sense in dropping your oil pan when you just may have the wrong dip stick or because the tube is simply broken thus resulting in a false oil level reading.
1994 XLT ext. cab 4.0, 5 speed.