Whilst not directly relevant to the original question in this thread I do have some related points.
I use an old fridge compressor in my workshop more or less exclusively just feeding a small nozzle (blowgun). Rather than have a have a reservoir I just switch the compressor on and off as required.
Water is not a problem but although I have used this same compressor for about 10 years, oil from its internal lubrication reservoir is emitted as a fine mist the first time the compressor is used each day.
I have no idea how much oil there things contain but I am amazed that there is any left after 10 years.
Ian P
PS. I know the regulations regarding recycling refrigeration equipment but this compressor was salvaged from a fridge that had leaked all its CFCs before I got it.
Ian P