UbertuneZ28

Hi guys new to the site! I have a 91 Z28 with the 350 TPI on my way to the airport this afternoon I started experiencing powerloss followed very shortly by a loud pop and complete engine failure. My oil pressure has been runnin slightly low for about a week but there have been no real issues. The only smoke that appeared was after i stopped and popped the hood. It had a little bit of white smoke coming up through the air filter. There was a little bit of oil on the ground right below the oil pan. I'm thinking that it might be the oil pan seal but wont know anything until this weekend when i can get it raised up. Any other ideas what it could be? I really hope its not a thrown rod...I always associated that with more smoke but I could be wrong. Thanks in advance for your help guys/gals.