tchase is most likely the correct one here.
and sadly, theres a few neons on neonspeed.com with this very issue as well.. and i know one of em is blowing smoke out the exhaust as well.

while it would be nice if its a bad oil pressure sensor, im kinda doubting it is, as is tchase.

 

Well, I agree now, also, because he seems to know what he's talking about. A few words of advice, though: check for the simplest problems first, because you REALLY don't wanna go deep into your engine if it WAS just a bad sensor. Just something to think about