Underclocked - I came across a homemade conical lube posted by Cayugad awhile back. It peeked my curiousity so much I decided to "cut-n-paste" it to a save place.
So here's the recipe...again, Cayugad owns the copyright and demands a percentage from all sales

Homemade bore butter type lube using bees wax
Homemade bore butter type lube using bees wax
2 ounces of Bees Wax
8 ounces of Castor Oil
1 ounce Murphy’s Oil Soap
Using a double boiler system, melt the bees wax. While keeping the wax liquid, heat the Castor oil with the double boiler also. Then mix the two together. Stir them together and while doing this a scum will form. You need to scrap the scum off the liquid. Once the scum is scraped off the mix, then add the Murphy’s Oil Soap and stir fast while it is melted. This will make a nice frothy appearance and very smooth. Pour the mix into containers and it will set up in a couple hours.