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To become "well lubricated" consuming alcoholic beverages. To get boozey.
I like to drink a few Miller Lites, get oiled up, and crank up my favorite classic rock jams.
by LBo979 February 20, 2009
To get beat down profusely in a fight.
Keep talkin' smack, fool! You're 'bout to get oiled up!
by GWillikerz June 23, 2009