**Disclaimer: I've only used this method to oil paulson chips**
Definitely agree @Ben8257 @BearMetal . I've only oiled after cleaning (and drying) my chips. I now tend to use as little oil as possible and apply using a piece of foam, which allows me to oil all sides. I only use enough to re-hydrate the chips though, and allow the coloring to pop again. As @allforcharity mentioned, light compression does have it's merits, and for me, some light pressure is needed to make sure that the oil hits the hat/cane and other recessed areas of the chip. I've tried moderate amounts of oil before (not even as much as the OP suggested), and found that the excess oil just sits on the surface. Even after laying out on drying racks for 24-48 hrs, excess oil that's not absorbed just pools on the chips. I need to wipe them down before racking them and even after that, some oil still seeps out over the next few days and sometimes a week or so (the heat also pulls the oils out a bit too). The times that i've used just enough oil to bring the coloring back, I've noticed that the chips dry much quicker (~24 or less hrs) and the oil doesn't seep out as much when they're racked up.
