Have you got the manual? The pickup coil is the same as the signal generator in the manual. It says to "Measure the resistance between lead wires. If the resistance is infinity or less than the specifications, the signal generator must be replaced."
Specifications are 80-120ohms.
You don't need to take the cover off to check the resistance and yes, there is oil behind there.
Are you checking the sparks correctly? since each coil is connected to two sparkplugs, one of the plugs has to be in place with the lead on and you have to ground the body of the other one to the frame/engine (although maybe not the cam cover, I'm not sure how well grounded it is) to get a spark. Alternatively, I think it would work if you removed the 2 sparkplugs for one coil, connected the bodies together and then checked. The circuit has to go from one plug lead, jump the gap in one plug, then through the engine block, jump the gap in the other plug and back to the coil (as I understand it).