Ben's e//S2

Good news! The oil looked completely normal again. No longer frothy or full of bubbles. The other thing is, the dipstick now reads down a half litre, as opposed to over filled by half litre before I started it. This makes sense, since I only filled 4 of its 4.5L capacity. So in the end, I guess what happened is that every drop of oil that I had poured in was sitting in the pan. This caused an over-fill situation, causing the crank shaft to whip the excess oil into a thick foam.
As for the oil pressure warning light, I'm not sure. I haven't had the chance to look into it. But given that the oil pressure gauge reads normal, and that it appears that the oil has circulated to its proper places, I have a feeling that the wires on the sender may be reversed. I won't be taking that lightly though.

Thanks to all of you who offered insight!

rooster 2

There are two sensors on the side of the block for oil pressure. They are screwed into the side of the block in the middle, below the sparkplugs. They are vertically aligned, one above the other. I think one senses low pressure at an idle, the other high pressure at driving speeds. Something like that.....Rooster

RussB

Oil pressure switches are on left (driver's) side of engine block just aft of thermostat housing