1994 Johnson 140 HP V4 - steady alarm

[XcellR8]

I recently purchased a 1994 17' Glastron boat with a 140 HP Johnson V4. Yesterday I took it out for a 45 min ride and it ran fine all the way. I shut it off for about an hour and when I went to start it again the warning alarm didn't shut of after turning the key on. I disconnected the tan wires from the temp sensors and there was no change. I then disconnected the tan wire that appears to come from the oil tank and goes into the ignition module and this stopped the alarm (it went back to one beep when the key is turned on). It appears to be using oil so does this mean the sensor in the tank is faulty?

 

[Windykid]

Re: 1994 Johnson 140 HP V4 - steady alarm

Was the oil low in the tank or an air pocket in the resevior?

 

[XcellR8]

Re: 1994 Johnson 140 HP V4 - steady alarm

The oil was full when I left. I didn't mark it but it looks like it went down about an inch. It never alarmed at all while driving, the alarm just appeared when I turned the key to start it an hour after the ride. It was sitting in the water with the motor up during that time and it was extremely hot out (at first I thought the sun had heated up the temp sensor as the cowl and the heads were pretty hot after sitting there).