I do not know when Oilite bearings came into play. It is possible, I would guess. If not, you have two choices. If the prop shaft is easily removable, then periodically removing it and greasing it with a light H2O proof grease will Probably be sufficient. If the prop tube is easiy accessible and you are good at soldering, then you could drill a hole, nearto but not at, the inboard end. The hole should be a proper fit for a piece of brass tubing (ie, this is assuming that the prop tube is brass) Insert your prop shaft so the piece of tube just touchs it, then back the tubing out just a hair. Remove youe shaft. Use care not to move the brass tube. Solder the brass tube into place. you then use the ube to apply oil or grease to your shaft. That is it in a nutsheel. When in doubt, use the KISS principal: Keep it simple Simon. i would use the first approach if you have any doubts. Best of luck.