Oil in bilge, engine won't turn, big trouble?

[markg]

My 2003 GTX Supercharge was recently de-winterized at the dealer. I have used it three times and it ran well. Last weekend while riding it, it just quit. I got all the right noises when I attached the key but the engine would not turn over at all. Pulled the dipstick and no oil showing at all. I looked in the hull and there is a lot of oil. Is my engine destroyed? What happened? I'm hoping there is a safety that kills the engine with a loss of oil pressure.