....but if you really want to know how to do it, drill a series of holes (in a straight line, obviously). When you've created the size oval you need, using a chisel (or a jigsaw or a file/rasp or a.....), remove the peaks left over to make the sides of your oval smooth and straight.
If you have a drill press, they often make mortising attachments that can remove the waste between two points. Using that method, drill a hole on either end of the oval you wish to create, and using the mortising attachment, remove the waste between the two holes.