I started to have engine problems and I tried to figure out whats wrong with it. I got an engine light with the code P0300 & P0401. I started to hear knocking in the engine for awhile and ignored it until one day I couldn't drive my car higher than 3K RPM and Oil Pressure light came on.

I stopped and noticed my exhaust manifold glowing cherry red and all of my oil were burned up. I stopped driving the car and checked my spark plugs and there is black carbon build up but the sparks plugs still looks fine. The spark plug boots on some of them do look a bit damaged but should be able to work. I'm assuming it could be my lifters?

I put a long screw driver on top of the head engine and on the other end in my ear and I hear it on top of the engine, not bottom.

 

Neither code says anything about whether you need a new engine. It is never good to run an engine out of oil. If a rod is knocking you need an overhaul or a new engine.