2004 Ford Ranger 3.0L with code P0340 and loud valve noise

Question

does it make a very loud valve noise?

I lost power, the engine light, the oil light came on, but there was plenty of oil in the truck.

Answer 1

P0340 Camshaft position sensor circuit malfunction

When this code occurs there is not a loud noise, there is no noise just a drivabilty problem where you know and feel that something is wrong.

 This would be a loud noise problem, you need to investigate the noise problem , you going to deal with a mechanical problem