This is manufactured by the same company that produces Deks Olje. It is an oil that can be used on wood but its made purpose is to protect and inhibit the spread of rust. Once dry it can be painted on top of. Seems ideal for trailer parts, centreboards, rudders and winches, which is where I used it. It dries to a glossy/varnish appearance.
Initially cleaning any loose rust with a wire brush, then two coats of the oil was applied, before a final coat of Hammerite.