What is “olde” in this piece is the middle section that has an obvious folksy character.  Overall the composer has tried to make both the oboe part and the piano part interesting enough for music students to actually want to play the piece.  There are also places where the individual instrumentalists can try their hand at improvising some details.  Three hundred years ago this was a common practice and all performers were to an extent at least familiar with the art of improvising within a given framework.  The composer believes that many performers today often neglect this important aspect of their craft and could greatly benefit by learning how to do this.