LOL John. It's not really a lubricant oil. more of a rust preventer for tropical climes or long term storage in Wild and wet West coast Scotland.

I used to use it on my wildfowling guns when I couldn.t get hold of pure lanolin to protect against salt spray. ACF 50 is better stuff for storing items nowadays

Possibly a complimentary accessory to a cased pair of Webley Mk1s from Malaysia? That's the only airgun use I can think for it.