i was actually thinking something like that might happen. the best thing about spilling oil is that its a lubricant, it doens't absorb into things naturally, it runs along them. unlike something like cordial which would have totalled your phone instantly.
so if your lucky enough, it might just all drain out of your phone without leaving a mark. best thing you can do is encourage that. if some oil hits a live circuit and shorts it while your phone is on, you will most likely loose the device.
(an oil spill happened to me once with a *very* expensive watch, granted there were no electronics in that though