We are very sorry to hear that your new Evinrude did not live up to your expectations. That had to be very frustrating when you looked forward to a fun ride with your brand new rig.
Because the NO OIL alarm sounded within a few minutes after starting the engine, it is more than likely that the oil tank, primer, and hose was not fully bled of air during the boat rigging procedure. There are precise steps that have to be followed to purge any air bubbles when the tank is connected to the motor and first filled with oil.
The engine computer is programmed to rapidly pump excessive oil into the motor if a NO OIL warning occurs to help protect the motor and to possibly quickly pass an errant air bubble should that be the case. That is why you saw oil dripping from the motor. Each time the alarm sounded the oil pump went into overtime. There was no harm done to the motor as there is always some oil in it because the E-TEC system recirculates oil inside of the engine. Not only that but the motor can run up to 5 hours at low rpm if an oil line is cut or if it runs out of oil.
Your dealer should be able to take care of your problem very easily and it may be advisable to have someone from the dealership go for a ride with you to make certain everything is operating to your satisfaction.
Again, please accept our apologies for your situation. If you have any problems, please email us with the serial number and your dealer name to http://www.brp.com/en/forms/contact-us.html
"There is never just one thing wrong with a boat";
-- Travis McGee, main character in a book series by John D. McDonald
The factory recommends that a properly trained technician service your Johnson or Evinrude outboard motor. Should you elect to perform repairs yourself, use caution, common sense, and observe safety procedures in the vicinity of flammable liquids, around moving parts, near high-temperature components, and working with electrical or ignition systems.
The information offered here is only general in nature and should not be construed as complete factory approved procedures, techniques, or specifications. Always use the proper service manual for your motor, up-to-date service literature, the correct tools, and have an understanding of how to proceed with troubleshooting and repair methods. If you are unsure or uncomfortable with a procedure, a situation, or a technique, enlist the services of a factory trained technician.