This turned out pretty good - not too greasy (I don't like greasy lotion). But I will triple the amount to fill the bottle next time!
2 Tablespoons of small peices of beeswax
1/3 Cup of Sunflower Oil
1/8 teaspoon Borax
1/4 Cup distilled water
8+/- drops of essential oil (I used "Fresh Rain")
Pour the oil into a microwave safe container and add the beeswax. Heat in the microwave for about 30 seconds, stir, heat 30 seconds, stir, etc. until wax is all disolved. You will have a yellowish liquid that is HOT but not boiling. Then in a SEPARATE microwave safe container combine the Borax and water. Heat in microwave to boiling (it's not much so about a minute). (Mine did not ever boil, but it turned out okay anyway.) Then while stirring the oil mix with a wisk, or fork, pour the water mixture into the oil/beeswax mixture. The clear water and yellowish oil, turn white as they mix. Continue stirring until it is all combined. It will thicken as it cools. When it is cool to the touch you can add your essential oil and transfer it to a container. The Borax acts as a preservative, so it should keep well.