If your friend actually resides there he is correct. No license is required for him or his immediate family.
This information is right out of the Oregon fishing regulations page three.
"All persons 14 years or older must have must have in their possession a valid Oregon angling license to angle for or take, or assisit another in angling for or, taking of any fish for personal use, Except......
Oregon resident land owners and members of their immediate family may angle for fish on land they own and reside upon."
So if you own land and reside upon it no license is required. There is a similar exemption for hunting however hunting tags are require.
So the thing to do is find someone with a lot of land with a good river that it ajoins and get adopted by the owner!