It sounds like a classic sticky stat to me.
The best thing when they have been sat is to let them run up to 1/2 temp and then run off and leave with the boonet shut, I do this and it always works to make sure they are free, some cars you can even hear them crack as they open for the first time.
It seems as though yours is ok now, the oil temp will rise as it actually does MORE cooling than your water, but not that yours is high, I've had temps around 130/140C so you do not need to worry.
I would check out the fan + switch by bridging the swicth and seeing if the fans run, if they do for peace of mind fit a new rad/fan switch, then RELAY the circuit as the ford circuit is a joke.
tabetha