If you have no spark with the kill wire unplugged, the coil is bad. Testing the coil with a meter is generally useless.. and this may sound silly but, you do have gas in the tank?
you said you saw oil... how much oil? did the oil run out of the spark plug hole? If you have any starting fluid/carburetor cleaner, spray a short burst, a second or two, into the plug hole, reinstall plug and wire, try to start. if it fires and dies, fuel problem, if it doesn't fire, most likely, no spark.
Engine needs 3 things to run
Spark (at the right time)
Air and Fuel (mixed by carb)
Compression