haha, no, with or without ocing it, you will fry it. Thermal paste is what allows the cpu to be in contact with the heatsink. Without it there is no heat transfering from cpu to heatsink, which means a hot cpu!
Make sure you remove all of the old thermal interface material from the heatsink before you apply any new thermal interface material. Follow the thermal interface material manufacturer's application instructions to ensure you get the most effective thermal contact.