You DO NOT - DO NOT - want to apply Tru-Oil or any linseed-based product on a fretboard. if you do a bit of research on TB and other forums, you will find that people use many different kinds of products, but most of them haven't done 30 seconds' research on the product they use. Linseed oil eventually seals the surface, and over a period of many years, oxidizes and darkens. It is NOT suitable for periodic treatments of fretboards.
Start by reading this thread, which is active on TB now:
http://www.talkbass.com/forum/showthread.php?t=614490.
My personal take is that on the very, very rare occasion (once very few years) when oiling a fretboard might be desirable, Fret Doctor is the best choice. It is formulated for that specific purpose, contains no petroleum or linseed oils, and is a pure vegetable oil formulation.
I also suggest that if the fretboard has no problems and seems to be retaining its original color, it doesn't need to be oiled.
The fretboard on my 1963 P has never been oiled and is holding up fine.