Most points came with a small gel capsule of high-temperature grease. The oil won't stay put well enough. DB-rated wheel bearing grease makes a good substitute if the capsule was missing. Just coat the distributor cam sparingly, and let the felt wiper spread it. The points will fail before you need to re-lube it.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!