We stayed here in September 2000 for a week on an all inclusive deal for £599 each - fantastic value for Barbados. The hotel is just across the road from a beautiful beach and between St Laurence Gap and Georgetown (closer to the former).
We had a spacious apartment comprising double bedroom, lounge/dining area with open plan kitchen and a balcony, with good sized clean bathroom and air conditioning.
The food was very good, if a little samey after a week - but considering the price of restaurants in Barbados I'd recommend all-inclusive if you are on any sort of budget.
There is a bar (local drinks included in the AI package) and entertainment in the form of a jolly steel band which helped create a real holiday atmosphere.
The drug dealers and pushy jewellery sellers on the beach were the only slightly negative thing we encountered.
Barbados is incredibly beautiful and I'd definitely go back to the Oasis Hotel - unless I win the lottery!