Oil and fuel light on under load

New bike new problems. 83 KZ550LTD M1
Warmed up and under med load and RPM (usually 3rd or 4th gear) the oil and fuel lights come on then immediately go off when I slightly roll off the throttle.
I'm sensing electrical surge here...voltage reg?
Anyone have any ideas?

Build page to follow because right now this hideous creature looks like Priince's bike. Soon to be Toecuter's.

....and it stopped doing it. My guess is that it just needed to be ridden. Possibly a low charge on the battery since I put a trickler on it last night and it didn't do it again.

Bikes are made to be ridden and get sad when they're not