In a new blog post Christopher Jones mentions the feature freeze that's happened for the PHP 5.3 series including the Oracle support through the OCI8 extension.

The volume of commits has recently increased in anticipation of today's feature freeze deadline. I expect the Alpha release time frame will also see high activity. Eventually, increased tightening of criteria for patch acceptance will bring us to Beta and then Production releases.

Features included in this most recent extension version include an allowance for external authentication, a change to let Reflection correctly show function/method arguments, an increase on the oci8.default_prefetch setting and correctly defining the SQLT_BDOUBLE and SQLT_BFLOAT constants.

Keep an eye out for a release on PECL with these new updates soon.