Felting Question

I just have a couple questions about felting… I started the FT Clogs pattern, and instead of the suggested yarn (it was too expensive, and my LYS didnt have too many appealing colors anyways) the owner suggested I use 100% natural wool (the brand is REALLy similar to Lion Brand Fishermans wool, so since I had some of that, I used it… )
My question(s) is(are) :
Since the wool I am using has lanolin oil in it (smells so good by the way)will it shrink well? And how is this type of yarn for felting? I know I should have asked BEFORE I made the clogs, but Im bound and determined to make this work:)
Thanks for the help!
Tia Marie

My guess is that it will felt just fine.

Here is a good article on felting.