I let it dry for a few months and yesterday I transformed it in a tea light holder in just a few minutes.
I started out be positioning some tea lights on the wood to see what would look nice. I marked the location of the tea lights on the log and took it outside.
Once outside, I mounted a hole saw on my hand drill and carefully started to drill out the marked locations. I made sure I was not drilling whole the way through. After this, I cleaned up the holes with a small chissel.
So after 10 minutes of work I had a nice present for my wife. :-)