Description Description Hide Show Using a proprietary technology and formula that we acquired in 2011, PENN oil and grease are built to lubricate and prevent corrosion. We’ve tested the competition and the results are clearour lubes perform better in saltwater than anything else on the market. .5 oz bottle of oil with 1 oz tub of grease Oil: Best for ball bearings, handle knobs, line rollers, and worm gears for smooth casting and retrieval. Grease: Ideal for internal gears, main frames, and side plates offering high load-carrying capacity and water stability.