The Collaborative International Dictionary of English v.0.48:

Oleoresin \O`le*o*res"in\, n. [L. oleum oil + E. resin.]
   1. (Chem.) A natural mixture of a terebinthinate oil and a
      resin.
      [1913 Webster]

   2. (Med.) A liquid or semiliquid preparation extracted (as
      from capsicum, cubebs, or ginger) by means of ether, and
      consisting of fixed or volatile oil holding resin in
      solution.
      [1913 Webster] -- O`le*o*res"in*ous, a.
      [1913 Webster] Oleose

WordNet (r) 3.0 (2006):

oleoresin
    n 1: a naturally occurring mixture of a resin and an essential
         oil; obtained from certain plants