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You cannot tell how the oil pressure is from the dipstick that just tells you how much oil is in the engine.
The oil pressure is generated by the oil pump, it is possible to have decent oil pressure with a really small amount of oil in the engine (not recommended though). It's just as possible to have the correct oil level on the dipstick but have no oil pressure due to a bad oil pump or a leak in the pressurized side of the oil tracks.
The tapping sound is most likely from the hydraulic lifters being starved of oil so because their not getting the correct oil feed they are not tensioning themselves as they should giving you the noise.
As has been said earlier it is not advisable to run an engine if you do not know if the oil pressure is good as serious internal damage is bound to be the outcome with no oil pressure, that goes for a Kia or a Ferrari.
Best of Luck,
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