Help Please!!!! engine wont run

I think you are looking way to deep into this. It sounds simple to me, like the first resonse says, replace the timing chain. Your engine jumped time, causing it to quit and the oil light came on. The engine may have sounded like it was still turning over because it is a manual trans and it was basically trying to pop start itself. It most likely died before you pushed the clutch in. It popped/backfired because your timing went off and it was sparking at the wrong point in combination with the engine being turned over and not actually running allowed some raw fuel to be dumped in, compressed and ignited.