I love these little oil pores on the presses here at The Nomadic Press. Some of them have small covers which are held closed with a tiny spring to help keep paper dest out of the works. It only takes a small amount of oil squirted into holes like these to keep things running smoothly.
It is important to keep the presses oiled since there are no roller bearings in this equipment. Just bushings.
This press is 120 years old and the bearing surfaces are not worn down at all.