Sew on patch stating "Oil District Rally 1968 B.S.A."

There is fire behind the year, and Fleur De Lies in red on the patch face, so i assume this patch originates from Louisiana.

I have been unable to find exactly what, when or where this patch commemorates other than what it states.

Patch appears to be unused but has not been stored all these years inside a package so is not perfectly flat, does not appear to have been attached to anything and does not have the tell tale stitching holes around the trim.

Please see pictures for details.