92 achieva oil pressure sending unit

Hello:
I have a 92 achieva v6 3.3l with 131k....just got it and my oil pressure goes from 70 at start to 40 after a few minutes or so and then the check oil lite comes on. Upon acceleration goes back to 70 then down to 40 at stop.
Doesnt always do this though....just most of the time.. I did have the oil changed with no improvement. The car runs great with no noticable performance problems.
Am I doing any damage running it this way?
I am wondering if my first fix would be the "oil pressure sending unit"....anyone know where it is located?

or anyother ideas would be greatly appreciated
thank you
Pressures are credible. The oil light for check oil (yellow light) is suggesting it's low on oil and check yourself with the dipstick that it is correct. The sensor or wiring for that may be at fault. A red warning means business and must be checked out at once if that's it,

T
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Tom Greenleaf - MetroWest, Boston
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