No doubt. First thing i would do is put a manual gauge on it, with a brass T so you can see the gauge and the light. (many have suggested) Use that as a diagnostic tool and pay attention to when it acts up. What does the gauge read? If it light acts up and the gauge doesn't, it is probably a sender or circuit issue. If both act up, it could be a pick up or oil pump issue. I'm sure this has all been discussed before in this thread but I didn't take the time to read through 3 pages of suggestions. Sorry.