I just bought an '03 X5 3.0i with 72K miles. "Check Engine Oil Lev" is displaying every time I turn the vehicle off (not at startup or while driving). The engine oil is fine (I check dipstick regularly and changed oil today). I replaced the Oil Level Sensor at the bottom of the oil pan, but the error message still appears when I turn off the vehicle. (Note: I haven't put the stiffening plate back on yet so I can continue troubleshooting things like the wiring harness). When I unplug the sensor wire connector I still get the same message at vehicle turn off. I also checked fuse #5 in the glove compartment (is that the right fuse to check).
One thing that I didn't do was disconnect the battery when changing the oil level sensor (and I haven't disconnected it since). Do I need to disconnect the battery to clear the error (note: I have an OBDII code reader and there aren't any error codes on the vehicle).
I have read through countless postings on this topic, but can't figure out what to check next?
Help. I really would like to fix this.

Any help would be greatly appreciated. Thank you.