Yes do oil just like in the book. The oil holes may be a little different but its easy to figure out. I have never owned a Riccar but I do have a Brother that is very similar.
As for oil there is a product called Triflow that comes in a bottle or spray can . It can be found at auto supply places or if not there, a bicycle shop. It does not dry into that brown gunk you sometimes see on old machines.
Never use WD 40 on a machine after a while it will dry into the brown gunk and the machine will freeze up if it sits. Those old machines are work horses and will last forever just about if taken care of.