not another low oil pressure

[acar24]

So I had a 02 TT towed in - no oil pressure
Started and tensioner rattle - no pressure. Porsche's infinite wisdom discontinued the expensive dip stick so have no idea how much oil is it.
It's been below freezing for the most of 4-5 weeks so I got inside over nite and drained the block - very little oil =so thinking pump was working, drained the oil tank and the first gush was water, but plenty of oil.
I removed the o pressure limiter valve and it fell out on its own so not stuck.
I am thinking the condensation settled in the tank and blocked the return to the engine. I reinstalled the pressure relief valve and put some oil back, in it. and cranked it over, on the 3rd time it Quieted right down. - oil pressure
Just wondering if any one has experienced this or additional thoughts.