I'm a founder of Orisi.org, and I just wrote a tutorial explaining how to perform an example bitcoin transaction using M of N oracles:
https://github.com/orisi/wiki/wiki/Performing-a-Timelock-transaction
If anyone wants to watch those multisig transactions, you can do so here:
https://blockchain.info/address/1PCkVX19uGm2QK1vhcXy9uM4y2jwR4dgbF
The details of what M of N oracles are, and how they allow for a creation of bitcoin smart contracts:
https://github.com/orisi/wiki/wiki/Orisi-White-Paper
http://gavintech.blogspot.com/2014/06/bit-thereum.html
