It looks like you've adapted the code from the sample at https://support.smartbear.com/testcomplete/docs/reference/program-objects/ado/createadoconnection.html so, for the most part, it looks fine.
Couple of notes:
1) You are creating an instance of the record set without actually using the record set. It looks like you've trimmed out a bunch of code and left some dangling artifacts.
2) The call to Execute actually returns a record set so, rather than creating a new, empty one, simply set your variable to the result of the Execute method
3) You don't have anything in your code that shows what you're doing with the query results... you're running the query.,.. and then...???? So, not sure if your code is "correct" because I can't tell what you're trying to do
4) You opened the connection... but you never close it. If you are finished with an SQL connection, it's good practice to close it to avoid licensing errors and such with your server.
5) I'm not an Oracle person... I use MSSQL almost exclusively so, if there are any particulars about Oracle DB that are wrong in your code, I can't comment. You are using ADO objects so those are pretty standard for use and it looks pretty good... beyond that, I cannot say any more.