An oil change was the least of the car's problems. The light on the left is a coolant level indicator. It indicates how much coolant is in the reservoir... typically this light means you're losing coolant. If you are losing coolant you're going to overheat the engine unless you stay on top of it and keep it filled up... obvious enough. But that's not the end of the problem, the coolant is going somewhere... in this case I'm also inclined to believe that the head gasket was leaking and coolant was getting into the oil. This type of oil contamination alone can cause massive amounts of damage (bearings go and then a rod gets thrown...etc.). The stock temperature gauge is not linear, anything above the middle is problematic really; but,the high mark generally indicates things are hot enough to warp the head if the temp isn't brought down FAST.
Personally, I'm already inclined to believe that the engine is beyond being worthy of a rebuild. Sadly, you won't really know until you get it out and torn down to start taking measurements.
Rebuild = take the whole engine apart, fix everything that's broken and then reinstall.
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