The oily fishing rod is a unique fishing rod made during the Heroes' Quest by using blamish oil with a normal fishing rod. An oily fishing rod can be used to catch the lava eel and Infernal eel with fishing bait. The oily fishing rod cannot be used to obtain the ring of charos from the Edgeville well when you are required to place it in there during Garden of Tranquillity. It also cannot be used during the competition in the Fishing Contest.
Note that this item is also used during a hard wilderness diary task, so do not drop it after the quest unless you've completed that task or you do not plan on ever completing it.
It is used to fish for lava eels located in the Taverley Dungeon, between the black demons and blue dragons and between the Black Knights and King Scorpions in the Lava Maze in deep Wilderness. It is also a good way to train near baby blue dragons in Taverley Dungeon since players can fish and fight. It can be used to bait fish like a regular fishing rod.
If lost, you can make a new one by buying a Sample bottle from the General Store in Canifis, obtaining a Thin snail and using it with a Pestle and mortar, combining the Blamish snail slime with a Harralander potion(unf) to make Blamish oil then use it on a Fishing rod.