@meadbert although the idea seems nice, I don't think you want to be in a place where you lose to a single counterspell after you Oath.
It's also a problem that if you do the golden Oath turn 1 (Orchard, Mox, Oath) you can't win unless you have another mana in hand.
@protoaddict I have no idea how Fastbond abuses this since their lists usually contain a lot of colorless lands though.
@Tittliewinks22 if you play Gifts (with 3 islands in play, mind that) and your pile has this I'll gladly give it to you since you'll play it and only draw whatever next turn. Putting this in any Gifts pile makes it weaker pile (and also Noxious Revival is way better in that slot I guess).
You need another 3 islands for this to work. Are we really talking about this?
EDIT: or does it count itself? I mean, if you have a Tundra and a Volcanic in play and fetch this, does it work? That changes everything.
EDIT 2: nope. It says "three other islands". It's bad.