Shale oil derived from the pyrolysis of shale from the Rundle, Queensland deposit has been processed by two stages of distillation, atmospheric and vacuum, and two solvent extraction processes, using n-methyl pyrrolidone (NMP) for de-aromatisation and methyl isobutyl ketone (MIBK) for de-waxing, to produce a significant yield of low viscosity, high viscosity index product in the lubricating oil range. The products derived from the processing together with some petroleum derived lubricating oil base stocks have been analysed for elemental composition, viscosity and viscosity index and by chromatography. The results show that the NMP extraction reduces the aromatic content of the vacuum distillate and that a high grade wax is produced in the de-waxing stage. The de-aromatised, de-waxed product has a viscosity at 40-degrees-C of 12.48 cSt and viscosity index of 143. It requires only the removal of a small amount of residual alkanes to give it a similar chromatogram to, but of lower molecular weight than the petroleum derived lubricating oil base stocks that were also analysed.