I am a bit hesitant to suggest this, but Oracle has already built RHEL-compatible php packages, including php-OCI8.  You can find the files at http://oss.oracle.com/projects/php/, built for both RHEL 4u6 and RHEL 5u1.  The php-oci8 package depend on the Oracle Instant Client (also available as RPMs), which means you don't have to do a full Oracle install unless you need the actual database server.

I have used them under CentOS 5u2 with good results, but be warned, they will be NOT supported by Red Hat, Oracle, or CentOS.
--
Jay Leafey - Memphis, TN
jay.leafey@mindless.com

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