Why oh why. Sudden oil pressure drop.

Small block. I had a pickup tube that would not turn enough to fit the screen flat to the pan. The recommended choice was to use enough teflon tape to build a tight fit with it backed off. NO!!

I got a pipe die and screwed it on till it was finger tight and gave it 3/4's turn to retaper the threads a little. Screwed it back in to the oil pump and BANG, screen was level to pan and tight without any teflon tape.
I put a little Loctite on the threads to seal them position the pickup where I want it, let it dry overnight. Then I tack weld the pickup tube to the pump, never had any issues.
Note to the OP
I would prime that motor before you start it again after your repair.
I dont use the drill method myself, I use a pressure system and run 5 quarts of oil throught the engine rotate the crank and verify that all the rockers are receiving oil.
Good luck and keep posting
Jim K