Oakeshott resigned from both the shadow cabinet and the National Party on 9 March 2002. He subsequently retained the seat as an independent at the 2003 New South Wales State election, gaining 69.75% of the primary vote, compared to 14% for the National Party candidate. After preferences, he won 82 percent of the two-candidate vote, making Port Macquarie the safest seat in the legislature. He retained the seat almost as easily in 2007, winning 78 percent of the vote after preferences were distributed.