One problem with an oil finish on an open-pored wood is that oil will "weep" out of the pores for a while. You could use a grain filler to prevent that from happening. I used tung oil on a red oak bookcase and it wept for several days (at least--hard to remember because it was a long time ago) after the last application. The end result is nice--I like the subtle sheen it gives the wood and it doesn't feel "plastic" like some film-building finishes do.