The binding energy of He and 0 was calculated using reaction matrix elements of Tabakin s potential. A separable form of the potential has been used to reduce the basic equation to a simple linear algebraic system. The Pauli operator Q defined in terms of harmonicoscillator intermediate states permits an easy and accurate calculation. Our numerical results for the binding energies include the firstand second-order contributions. A very resonable agreement between the experimental and theoretical values has been obtained, since the occupied-state energies are made nearly self-consistent and a cancellation of other important higher-order contributions has been achieved by a shift of the entire harmonic-oscillator spectra.