I made my own frankincense oil and it has a lovely smell. You can buy the raw frankincense online and mix it with oils but it takes about 6 weeks to infuse. That should not be a problem for soap makers as the soap takes just as long to cure. The cost of the raw frankinsence was $18 AUD for 500g. I also made Myrrh oil but the scent is very mild, maybe I didn't leave it infuse long enough.
Being infused it won't likely survive the lye monster in CP. Most things that are infused and not true EO don't survive saponificiation unfortunately.