I just made this recipe too, and it is nice. i was out of almond oil, and didn't have the other oils suggested, so I used olive oil. I don't know how it is compared to the original, but I find it great. It will be what i use at night time. It is a bit greasy, but, imo perfect for overnight use on my winter skin.
From what I have read, vitamin e oil is a natural preservative.
I also made the lotion bar, and it turned out very well.
4oz beeswax
4oz raw cocoa butter
4oz of a carrier oil
10 drops of essential oil
Melt the cocoa butter and beeswax together, you can use a double boiler, the microwave, or just a pan on the stove - but be sure not to heat it to the boiling point because it looses some of its nutrients when it boils.
When the beeswax and cocoa butter have melted completely remove from the heat and add the carrier oil of your choice and essential oil,
I used coconut oil as I could not get shea or cocoa butter. and I used sweet almond oil for the carrier oil. I did not add essential oils to this, as it seemed to have a pleasant smell on its own.