Alarm on '93 Evinrude 115?

[Party hut Chris]

1993 Evinrude 115 warning alarm? Took the boat out for the first time today, and the alarm started going off after about 10 minutes of very conservative speed.
Facts:
-full tank of new oil
-new gas (tank was recently emptied due to bad fuel/water). "Heet" added to absorb any remaining moisture
-good firm stream of water from pee-hole
-tach is functioning sporadically- sometimes on, sometimes off
-alarm sped up and/or slowed down due to speed of boat
-after I got back to shore, turned it off for a couple of minutes, and no more alarm

Thoughts or advice on what this alarm is?

 

[Fed]

alarm sped up and/or slowed down due to speed of boat

NO OIL Alarm.

That is NOT oil in the oil tank, it means the VRO isn't pumping oil.
If you opened the oil system anywhere from the fill cap to the VRO it would need purging by the book.

Any doubt at all you should add tcw3 to your fuel tank until oil usage is confirmed.