Oil Light/Different readings from dipstick

[DEM3]

Hi

Just bought a 2003 M3 and i love it! i traded up from 325ci and it is everything i was looking for! The SMG is excellent!

It seems a very good car, but it sounds a bit ticky... (ticky sound goes if i go into neutral when moving so im guessing its not bearings?) kinda like when my 325ci would just before the oil light came on. The oil light has come on once or twice and i have checked the levels exactly as per the manual. I get a reading on average of 3/4. I put just under 250ml approx. yesterday, but the light has come on again. I check the oil in the car park at work and i come down a hill just before hand but surely going down a slight hill wouldnt call a problem. It says 13,000 before oil change so I am surprised to see this light on already!

Whats the average oil consumption of the m3? i dont drive it too hard!

I have bought the castrol 1060 oil from my local stealer... £17.00! mofo's!

Any ideas?

Thanks

Dave

[outnumbered]

Has it come on yellow when you turn the engine off (warning), or red when driving (bad) ?

Mine tends to do the yellow-when-engine-off thing when it gets to about half way on the dipstick. I just fill it up to near the top.

[DEM3]

It has only ever come on (yellow) when i switch the car off. I will check levels again today, its booked in to my local indy next week, so im hoping they will sort it. Is this a common thing on m3's?