It is quite correct for a brass British Army oiler of the type used until quite recently, more or less. This was the accepted pattern, ut during WW2 they needed the brass for other fun toys and so started making these out of Bakelite, a type of phenolic-resin plastic. They are still being used, but in the modern plastic version; even the old Bakelite ones are long gone.
Likely this one will be First World War vintage or possibly even earlier. It should be marked on the base with the Broad Arrow /!\ in one version or another. Many were marked with contractors' initials and dates, so you not only can date the thing, but you know who made it and where. Canadian ones were marked with the Broad Arrow in a big letter "C".
LOTS of fun!
You have the beginnings of a Boer War or WWI collection there, friend.
BTW, THIS is what was stored in that little cubby-hole in the butt of your P-14! This took up about half the space; the other half was taken up by a Pull-through (think of an 1896 Bore-snake).
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