Is it ok to drive with the "low oil level" and "check engine soon" lights on?

Have you opened the hood and actually CHECKED the oil level with the dipstick???

ADDED:

It could cost you $3000 for replacement of an engine because of low oil.

if you checked your dip stick and you are sure your oil level is full then your oil pump might have gone out and if that is the case you do not and i mean do not want to drive it you should first have someone plug in a obd 2 code scanner and see why your trouble lights are coming on .if you think the lights came on for no reason then you are wrong so have the scanner read the codes they are there to let you know whats not right about your car without having to waste time trouble shooting the problem because if you dont have oil in your engine pumping you will burn up the motor real quick and motor replacement is big $$$$$$$$$$$$$$$

have you manually checked the oil? with engine off remove dipstick wipe clean reinsert then remove and is the level right? if so its the oil level sensor that is bad, it is common for that car, it does not mean low oil pressure it means low on oil, but if its full its just a false reading, as far as the check engine light, well that has nothing to do with oil level, have the codes read free at autozone once you know code then ask a new question, check engine soon may just be service soon light saying its due for oil change,

Your willing to blow up your motor for a trip to the mall to buy some useless crap you probably don't need?

Best of luck to you either way.

Yes, you will be. Don't drive above 60 and IMMEDIATELY get the vehicle checked with your mechanic or at an Autozone.

LMAO at Mark F's answer, what is more important, huh.