O Waly Waly

This tune is used with a number of texts. It is listed in two of my community songbooks as being a Somerset tune. I wondered if I was right, therefore, in assuming the title to be Cornish in origin (as Cornish was spoken in Somerset before it was driven westwards and becoming separated from southern Welsh). The equivalent in Welsh would be "O Wele Wele", which would mean "O Behold, Behold", which would certainly fit with the title of a hymn tune. Any ideas?