Ken, you may want to make this into a sticky topic.
This is something that needed to follow us from the old board, for new members to use. I've made the formula corrections Corky had pointed out, to this rendition.
Felix Lube formula
2 Tablespoons mineral oil
1 Tablespoon castor oil
1 Tablespoon Ivory, or homemade soap (grated)
1 Tablespoon Lanolin
Beeswax - Piece approximately 3 1/2" X 3 1/2" X 1 "
Heat mineral (baby) oil until it starts to smoke.
Add castor oil, and stir continuously for 1/2 hour.
Sliver the soap, and stir into the mixture a little at a time, until melted.
Add the beeswax before the lanolin, and then when that is melted, reduce or remove the heat and add the lanolin, thus not running any risk of burning or scorching the lanolin.
1 teaspoon of carnuba wax can be added to give a shiny bore. This can be found on the seal of Makers Mark whiskey, or the red wax on cheese from the supermarket.
Once made, let cool. This can be remelted in a microwave, and poured into the lubrisizer.