TimK nailed it, on CJ's observation. The NC contact on the relay will be "Normally Closed" when the relay coil is not energised. In other words opening the tap with ignition on allows the relay to drop out and power the Thorspark. From the new ignition switch a nice big red tell tale in parallel with the relay coil is an additional safeguard. Tap Closed, Ignition switch on, warning light on, relay pulled in...no power to Thorspark. Open tap, light off, oil flow and ignition are set to start up.
Relay coil only draws power with ignition switched on and tap closed, as TT. In my earlier consideration I reckoned to keep oil and electrics apart, but if a simple circuit as outlined is within reach, all the better. Only proviso is that failure of the relay coil and warning circuit will allow power to the Thorspark with the tap turned to off.
Ted's double loop trick is a whole lot simpler....
Swarfy.