need some help understanding please!!!!!

so i just hooked up my ac comp that im trying to turn in to a edc. its a sanden 708. i need some help to understand some things. is it right that i dont need a inline oiler? also the nut on top is where the oil goes correct, what kind of oil do i put in there and how much, just till it comes out the top or what? thanx ahead of time guys.

and for more info go to the home page that pic came from http://www.kilbyenterprises.com/index.htm