To be honest, I don't know much about the Oracle class, but Bards make for great dips. There are sure to be some level one spells that aren't on the Oracle's list that you might find useful, and the Inspire Courage is a great buff.
It's possible but it's not the power choice. A lunar oracle probably has a bunch of revelations which depend on class level, besides their spellcasting which of course won't improve and their curse likewise.
Just bear in mind that if you have offensive spells or effects, they won't 'hit' as hard or as often because of caster level.
If it's about buffing for the party/etc?
Should work pretty neatly.
the main answer is no, not a good idea.
the long answer is if there are some synergistic abilities then MAYBE but probably not.
Do you want some 3rd level spells or more 1st level spells?
No. If you want to spend a standard action to provide a hit and damage boost just cast bless or prayer. Oracle progression is already slow and limited enough without draggin yourself down further
Never. Horrible.