Floatants & Oils. Loon Outdoors fly tying for fli fishing. Necessary maintenance accessories for your sport fishing equipment: Lubricants, cleaners, oils, degreaser, lubricant reels, etc ... Range of Fly Fishing Floatants and Fly Fishing Sinkants including. Some advocate using CDC oil as has been said. I prefer not to use any oil or floatant of any kind, again as has been said.