Bacchus
Jake has given you some good advice, though depending on the applicator you have to apply oil with it is easy to get too much, so here is my variation for applying the oil.
Wet a Cue-tip with oil, and run it down the frame rails and on the barrel hood as Jake said. You want a good film at this point, though if it runs, drips, or pools, you have too much. Now shoot your pistol and check it like Jake recommended. If it needs more lubrication, wipe the powder residue off the frame rails with a drip cue-tip, then re-oil with a cue tip. Don't worry about doing any more cleaning than mentioned here until you have completed the 300-500 rounds. Another variation I have used is to put a thin film of gun grease on the frame rails instead of oil, and then shoot the 500 rounds, without cleaning or relubricating the frame rails.
Here are a couple of other things to consider. For ammo I like Federal American Eagle because in my experience it leaves a bit more powder residue, than most other brands except S&B, which is something you want when you are breaking in a new pistol since it will mix with the oil and do a very mild polishing job.
For oil I like Hoppe's #9, or any of the other dedicated gun oils. Avoid the 3 in 1 cleaner/oils, Ezoxx, and Tetra products. Another thing to avoid is anything with Teflon (Remoil and Tetra) or Molybdenum Disulfide (Moly for short) during your break in period. At this time "Low Tech" is best. For a gun grease, the Mil-Spec rifle grease available in small 1/2 - 1 oz pats is really hard to beat.
I hope this helps.
PaulB