One thing that no one has mentioned is that a low pressure state can also be from too much oil. If the engine is "making oil" it will be due to either water or fuel getting into the crankcase. If either of these conditions happen, it can often lead to low pressure. The water will cause the oil to foam and sludge which can block the pickup tube. fuel can dilute and thin the oil so that the pump cannot build enough pressure because the thin oil leaves the bearings too fast.
Anytime you get a low pressure (or over temperature) warning, all fluids should be checked before attempting to restart unless you are in a life safety situation where you must get power immediately or risk the safety of the boat.
The thing to remember is that if you destroy the engine in that age of boat, it will probably go to the salvage yard because the repair will likely exceed the value of the boat.
Anytime you get a low pressure (or over temperature) warning, all fluids should be checked before attempting to restart unless you are in a life safety situation where you must get power immediately or risk the safety of the boat.
The thing to remember is that if you destroy the engine in that age of boat, it will probably go to the salvage yard because the repair will likely exceed the value of the boat.