I don't think that the oil or water is going to have the same effect. And from what I have been told, the tabletop ozonators are not that effective because 1. they do not produce a therapuetic dose of ozone and 2. because they produce nitric oxides.
MMS is a close cousin to ozone and much more economical. I have read that Miracle-Mineral-Supplement will provoke toxins (heavy metals) when used.