You can't manually turn it off, it's a fully automatic lantern :) . To make it turn off, step out into a lit area.

You can chose to not replenish the oil, once it's been used up.

Some additional stuff:

1. Lora leaves as soon as you get to the Draracle himself. Remove her items before the second and final steps to the
Draracle. It is obvious enough you are getting there, you will know.
2. Timothy (if you have him) leaves when you return to Gladstone to tell Richard the Ruby is stolen. Remove his items before you enter Richard's throne room (to be safe, remove them as soon as you enter the castle itself).
3. You can go to Roland's Manor without Timothy, either by accident or by choice.
4. If you go to Roland's Manor before Grey Eagle, Roland's chest will have the compass in it.
5. Without Timothy in your party, the second Marina travel only costs 100 *BUT* without Timothy, Roland's chest only
gives enough for 1 person passage (YOU) therefore there is no silver advantage to this; the chest gives enough for you
and Timothy if he is with you.
6. In the Gohrka Swamp, DO *NOT* USE FREEZE ABOVE LEVEL 1! Anything more than 1 can hurt any Gohrka nearby.
This won't break your game, but it can make it more difficult.
7. You might find a Green Skull in some woods. Keep it, but don't use it right now. You'll know when to in the future. I
THINK it has limited use, so best be on safe side.
8. I think just about ANY "heavy" item can be thrown for damage, not just rocks and stars and such.
9. (This happened when I first played as a teen back in the 90s) If (WHEN) you come across a big slug thing that's hard to kill, and if for some reason you don't have a certain skull (hint hint), remember tip 8; ALMOST ANYTHING CAN BE THROWN and throwing has no cooldown like your attacks do. I actually beat that huge slug that way (with liberal healing...).
10. Be careful where you sleep in the White Tower.
11. There's no good reason to kill the beggar.
12. The option to fight is better than the options to bluff or sneak. If you're prepared.

1 and 2 seem like a waste of time; just give your best equipment to the champion and Baccatta. Timothy and Lara aren't with you long enough for it to be worthwhile to deck them out in prime gear.

7 - It's not limited. It just draws on your MP supply, so if you're trying to use it with the same character repeatedly, they'll run out of MP to use it.

12 really depends on the situation. Fight is a bad choice at some branches.

My own advice:

Always keep at least one bashing weapon, one cutting weapon, and one bow or crossbow in your inventory.

Heal, as in many RPGs, is by far the most efficient spell available. But it does not increase your magic EXP.

Click on anything and everything. You're punished for doing so rarely and mildly, and you can get useful items and important clues this way.

And seriously, don't leave Gladstone Keep without the Magic Atlas.

These are some pro tips. Thanks!
Lots of other heroes in this thread, too. Thanks, everybody.

An awesome thread, just wanted to thank all of you guys for the advice. Always wanted to play Lands of Lore, and now its time has come. Just played for several hours and loving it so far.

I too am finally playing Lands of Lore for the first time, and am enjoying it very much. Wondering if someone can help me with a question, I just got my first spell scroll and the manual says take it in hand and right click the player portrait to add a spell from it to your spellbook. But I can't seem to take it in hand, and nothing is working, any tips?

SO I figured out that the spell was already in my spellbook, it just hadn't shown before because I only had Spark before that. The Draracle cave is pretty tough so far, even with two companions!

Ok, my biggest advice : be very careful with your items, because the game really wants to screw you and have you start over. Last time it happened to me ? In the last castle, there's a niche where you can put an object : niche and object just disappear into oblivion forever. So if you put a quest item inside, and assumed that - because the item and the niche vanished - you did what the game expected from you, you might progress the game and write over your save files until you realize it was a trap and your quest item is lost forever, preventing you from finishing the game. You basically have to start over from whichever backup save file you have. Mine is at the start of said castle, which is not too bad all things considered, but some parts of this castle are annoying enough that i think i'll leave my game unfinished again.
Lands of lore is a game i pick up every 10 years and give up at castle Cimmeria like every time, apparently.
There's something in that game that draws me to it strongly, but the endgame feels so rushed and poorly designed that i can't bring myself to the finish line, every time.
I'll see in 10 years if i remember where i screwed up.

Im playing this LoL1 for first time. not so hardcore as other RPGs from early 90s. Also im happy to finaly see some quickly running and nicely looking RPG of that era, just few months back i tried Ultima VII which was... absudly slow, Ultima Underworld even worse.
LoR is simple, but cool dungeon without annoying drinking/eating every five minutes. I like it.

Anyway I need to know few things.
XP/Skills earning? How that works? Theres no XP number at all, just bars, which complicates to find out which actions actualy rising up XPs and which dont. Does hurting/killing of enemies by button activated trap produce some XPs or not?

Im in Caves 3 now and I have a strong feeling that XP are calculated purely by amount of damage done to enemies, My 4handed battlemage is growing his fight skill quite quickly, on othes hand my main catlike rogue hero rising his rogue skill very slowly, arrows and my stronger dagger are so so weak. Am I right or theres a more complicated system? And what about using of beehives? Are they count as standard throwing of weapons?

So I also need some tips for rogue skill farming.
its really annoing to train two rogues, my main one and new rogue skilled woman from caves, cause i found so far only one weak bow. Other rogue have to use throwing which is done pretty ugly in this game, chance to hit anything from distance is low and not much better in face to face combats, so Im using strategy when I spam my stronger dagger to enemy right in front of me while other two characters trying to heal my rogue as they can. I noticed that using of bow from in contact combat also works, but i hit in cca 1 case from 6 which is similat to shooting attacks from distance.

Is there any difference between shooting from face2face and from distance, in chance to hit?

EDIT:
I just find out that "stars" can be put in hand and used automaticaly like some gun with unlimited ammo. Strangely knives can be thrown similary as a stones, but surprisely their chance to hit and probably even damage is much much worse. Paradoxlly stupid stones are the most efective throwing weapon better than bow and shurekens. And beehives must be used by rightclick on them and then rightclick on character picture, odd.

What a chaotic design. WTF devs smoked during development of this game?

Btw whats wrong with niches in this game? Some weapons put in some niches are reskinned to pickaxe but just visualy, when you take them back they are as were before.

BIZARRE NICHE in Caves third level:
But the most bizarre is one in Caves 3 with floorplate nearby which closing this odd niche, your rogue comment that as strange wall.
You can try the trick with pickaxe here, but theres more oddity. If you put in this niche sledge or standard dagger (one without any other name) then they are instantly changed into Dagger "Back Biter" with slightly higher damage than standard dagger.

I bet there must be some official secret , but whatever i put into niche and close it by floorswitch mothing ever happened. Does anyone know how this mechanism should work?

No, it does not. Warrior EXP are accumulated by killing enemies with melee weapons. Mage EXP are accumulated by killing enemies with spells. Rogue EXP are accumulated by killing enemies with ranged weapons and picking locks.

I don't think there's any point in training two rogues. Whenever you pick locks or bluff, the game goes by the highest rogue skill in your party, so the second rogue contributes nothing there, and ranged weapons aren't powerful enough that you can do as good or better in battle with a second rogue as you can with a warrior.