You cannot have several product code values in OLDPRODUCTS property unless you're using "Allow side by side installs of different product versions". This property is set only in an upgrading package and the option results in having several previous versions already installed at upgrade time.If old products has 1.2, 1.3, 1.4 and you're installing 1.5
By using "Automatically upgrade older product versions" option, you'll always have only one version version of your product installed on any target machine at any given time. This means OLDPRODUCTS will include only a single product code.
All the best,
Mihai