Lister's recommended that the base of the oil tank was level with the pressure pump. I know of several installations mainly with JP's where the tank is higher though including my own which is maybe 12 inches above oil pump, as shown below. You will see the copper one illustrated in my link to tanks above is located even higher, above the flywheel. This of course allows the tank to be drained easily and doesn't seem to cause any issues when engine is running
If you refer to the PRV drawing, you will see there is a check valve that prevents oil draining back via pressure pump into sump when engine is stopped. As you are heavily reliant on this with a higher mounted tank and not trusting it completely, I have a ball valve in oil feed to pump which I close when laying the boat up for a week or more, with suitable sticky note reminder by engine start button
Note that when engine is started the light check valve spring is easily compressed by oil pressure to allow oil flow, and the more powerful pressure control spring comes into play. The design can be seen to maintain oil pressure relative to scavenge pump pressure.
If you are just going to rally your engine you might be interested to see this trailer mounted demo Lister 9/1 (JP1) installation which does seem to have a smaller than normal oil tank.
Suggest you make the tank large enough to ensure that scavenge flow back to tank is established before tank is drained by feed to pressure pump.