On the OP switch the individual machine control wiring will vary depending on whether it is using BOR "break on rise" or "make on rise" logic. There is a C common lead - usually the middle connection, then a NC normally closed and also a NO normally open contact. (A simple continuity test will identify the leads if they are not legibly marked.) Above about 10psi the switch changes position internally such that one contact opens and the other closes. So, your control circuit will use 2 of the three contacts only... A simple Make On Rise setup is often configured with a bypass timer or switch to allow the control relay to operate while you are cranking, starting at zero oil pressure, or even better sometimes, just a simple series circuit that will only open the fuel/throttle control relay after the oil pressure reaches the threshold point in the switch.
The correct answer for your situation depends on the type of control system installed with your engine. Some modern ones use digital logic and can be triggered by either type of circuit. Many of the newer Listers have a simple Make On Rise series wiring scheme.
dieselgman