Last May I posted about installing OpenJDK 6 on the Beagleone Black. I now see that there are instructions on the BeagleBoard.org Web site for installing Oracle Java (JDK) 7 on the Beaglebone Black. The process is very simple and I had no problems with the installation. No additional components are needed to get the Linux ARM v6/v7 VFP Soft Float ABI version running on the Beaglebone Black.
To reduce the amount of space taken up by the installation, you can delete the src.zip file included in the tar.gz file.