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AH! They changed the oil hose from clear (which yellows) to black. A key aesthetic decision!

As I explained, it will confuse some to add a picture of the oil pump. Your car was made in the period after they had moved to an electric oil pressure gauge & sender but were still using the silly one-shot oiler. IIRC, the Staff only removed the infamous one-shot after Peter was looking the other way in 2002/3.In any event, we know your oil pressure system. Same as I use on my car, though I removed the one shots on all my mogs.

I would suggest more testing if you hadn't run the car (something I would have been very reluctant to do myself) and it got noisy. Forgive me but, running an engine with hydraulic tappets and a doubt of oil pressure/flow is unwise even at idle. However, it is a short cut to this diagnosis. I assume your little pump has lost its prime, as it has an reputation of doing. You can confirm that with a quick google search. Do you wish to do more tests? There is a possibility that the oil pressure relief valve has seized. I use a tadpole (they never seize) to prevent that. I believe Real Steel still sells them. https://www.gomog.com/allmorgan/Oil-Pump-tadpole.JPG I couple them with a TAperformance oil pressure adjuster,(works over 1500 rpm) an example of trans-Atlantic ingenuity. All these things eliminate future hassles and cost nothing in time or wallet when you are working there anyway.

To check whether your pressure valve has seized, you must open it, preferably removing it. See the diagram below. The big bolt thing (the plug) holds a spring loaded valve. which should all fall out (watch for that) In the happiest of worlds, the valve will come out, looks like a thimble). If that happens, you have no valve seizure. If it doesn't come out, strongly consider a tadpole valve. If it was seized you may be good to go without further fuss. Reassemble, (torque the plug to 40nm/30 lbfts.) top up the oil and start the car with your eye on the gauge.The gauge should pop up within 60 seconds.

All the Land Rover Factory Manuals recommend one method of regaining your/my oil pump prime, though there is another I use. However, considering how vital this is, let's follow the LR/Rover method. and I have lots of pictures and diagrams for that one if needed.[It is used for these pumps on 1976-2000 (for UK Plus 8s) and 1987 to 2000 (for Plus 4s) and 1977-1996 (for overseas Plus 8s and Plus 4s) Later LR/Rover Plus 8 models use the GEMs crankshaft-driven pumps rather than your/my and everyone else's camshaft-driven systems.

Regaining your oil pump prime. WARNING. It is simple method and a mess. :

1. You need to buy little paper Rover V8 oil pump gaskets, preferable 2-3 as this is your first time. https://shorturl.at/VlhDK (regardless of today's lack of knowledge...they fit all the Morgans noted.)
2. You need to buy a jar of vaseline
3. Now you have an option. You can leave your engine full of its oil or empty it. Not to worry you are going to get messy either way.
4. Place a pan under the pump.
5. Remove the oil pump by removing its little screws. Remember where each goes as they are different sizes. As well, the two gears will likely drop out. (By this time, you are a mess)
6. At this point, I would check the pump face and see if it is damaged. If it shows rings, repair it https://www.gomog.com/allmorgan/oilpumpbase.html (they are very hard to find now). The repair will increase your oil pressure back to what it was when the car was new..or a bit better.
7. When ready to re-install, slip the gears back up, and pack the timing cover part of the pump with the vaseline. You will have to hold the gears in.
8. Offer up the little gasket
9. Re-insert the little screws. The torque is negligible 11.5 Nm or 9lbsft ) https://www.gomog.com/allmorgan/torque2.html

Good luck

Lorne