That shape shows the grain well. Drill a hole in the top and hey presto - candle holder.
Cooking oil, machine oil, old candle stubs..... I've used them all from time to time, due to my tight budget. Beware of some oils though. You may never get rid of the stink. I've used the candles as a friction polish type thing. Sand to 600 grit, then apply the wax and sand again. The sanding friction melts the wax and some kind of capillary action draws the melted wax into the fibres. Then a bit of 1000 grit wet & dry with olive oil, followed by a dry paper towel to take any residue off.
Take care with the wax, if you use it, as an uneven application can leave a residue which is a bugger to get rid of.
Since then, I have invested in a few finishes. One of the best aids to finishing is sanding sealer. (from about £6/litre) Sticks of beeswax/carnauba give a really pleasing result, and don't cost the earth. If you watch the Carl Jacobson vids on youtube, he uses paste wax and abrasive on his work. That will be my next experiment.
It pays to buy decent abrasives too. A friend gave me a box full of packets of A4(ish) abrasive, you know the type of stuff - 4 different grades in the packet, made in China. Total garbage. Much better to spend a few bucks on rolls of the stuff. Lasts longer and gives far better results.