Change Oil Light Question

I have a 2000 Camaro SS with 15,000 miles on it. I store it winter/sprint and mostly drive it during summer and fall - less than half the year, rarely
putting more than 2000 miles on it a year.
Last October I used Mobile One synthetic for the first time, it is now June and I have only drove 1,000 miles on the oil.
While driving today, the 'change oil' light came on for about 25 seconds and then disappeared and has yet to come back on.
My question is, does the light actually "monitor" the oil effectiveness or does it only a 3,000 mile calculator? Since the light went off ... is it ok to continue to drive with current oil because of the low mileage? I was going to change the oil again in the fall before I put the car away for the winter.
Thanks in advance.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
http://www.gmgoodwrench.com/resources/pdf/SimpMaintConsumerQA.pdf

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Motorsforum.com is a website by car enthusiasts for car enthusiasts. It is not affiliated with any of the car or spare part manufacturers or car dealers discussed here. All logos and trade names are the property of their respective owners.