Did the engine stop on its own, or did you have to turn it off? A sheared cam gear or a cam broken ahead of the distributor gear will stall the engine instantly. If it was making a racket and still running, you've got a broken piston, broken connecting rod, or a rod bearing failure. It would also need to have a major bearing failure to lose enough oil presure to turn the idiot light on, or a broken oil pump drive. Drop the oil pan first, and look for broken stuff!
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!