It means to 'chillax and have a good time'.
EG.

Person A: 'I had an oinging time last night mate'.

Person B: 'yeah I needed some time to relax'.

OR

'I'm so tense man!! I just need to oinge'.
by craazyjoey June 9, 2009
Get the Oinge mug.
person 1:today was so stressful
person2:i agree

person 1: u wanna go oinge at my place
person 2: sounds great
by The JDT June 9, 2009
Get the oinge mug.