This oasis is a fairly safe spot to settle, even though sometimes a Golden Machairodus shows up to attack. A good strategy to make this oasis even more safe is to construct Branch Barriers or Thornbush Walls to restrict access to this location.
Just in front of this oasis is The Father Tree which is arguably the best view in the game. You can see all the way to the Canyon from the top of this tree. This allows you to get your bearings and you can easily figure out where to go from here.
There is an Emerald hidden on the cliff above you.