Excuse me, the correct syntax is with tokens=3*(by using the asterisk we make sure that not only the third word is used but everything following it as well) and you have to set %%A (not %%B).
@(protected) OFF :: delims is a TAB followed by a space FOR /F "tokens=3* delims= " %%A IN ('reg query HKLM\SOFTWARE\ORACLE\ /v ORACLE_HOME') DO SET CURR_OH=%%A ECHO Oracle home is %CURR_OH%