An ancient recipe which appeared in The Book of Sacred Magic of Abramelin the Mage, a medieval grimoire. Abramelin claimed it allows the user to find treasure, and bestows the gifts of invisibility, and flight, and the authority to control spirits and elementals when used in ritual magic. Subsequently used by Qabbalists, then the 19th C. Hermetic Order of the Golden Dawn, then Thelemites, and now by any number of Pagan practitioners.
Used as a general anointing oil for any working, this is the Crowley modification version, about which he said: “The Holy Oil is the Aspiration of the Magician; it is that which consecrates him to the performance of the Great Work; and such is its efficacy that it also consecrates all the furniture of the Temple and the instruments thereof.”