A compression test won't tell you if your rings are bad unless you do it twice. Dry the first time, and the second time wet.

A quicker method is with a vacuum gauge. If, when you quickly close the throttle after running at 2000 rpm for ten seconds or more, the gauge needle DOES NOT jump two or more inches above what it is at idle, your piston rings are shot.

Take care,
~Chris

would the rings cause the motor to loose oil pressure or would it more than likely be the bearings

bearings or a plug popped out, as was mentioned.