before you oil it all down you'll want to sand it as smooth as you can get it (including the white paint), it looks like the grain has lifted quite a bit, and if you just scuff it up you'll still have little cavities where the water can lay and re-lift the grain. Use a belt sander. and take it down where its all new wood, palm sand it to like 220, then oil the crap of it. Also try not to disturb the dark grooved area, that is an epoxy that seals the joints, if you remove it you'll have to re-do that as well...... Or I could come pick it up, dial it in at my shop, and maybe an inducer, or loader would mysteriously end up in the bed of my truck.
