The family of the founder of ASCON OIL company limited has warned that anyone who gets into any deal for the purchase of the asset of the company does so at his or her own risk. This, according to the family, is because notwithstanding the fact that another company, which goes by the name Quest Oil and Engineering Services Limited entered into an agreement in 2019 when the latter was in some financial crisis, following the demise of its founder, Engineer George Ikemefuna Enenmoh, the family of the founder of Ascon Oil remains, as it said, remains the “absolute owner” of Ascon Oil Company.
The reason given by the family, in a statement to that effect, is that Quest Oil and Engineering Services was yet to make full payment for the sale of shares earlier agreed to with the Quest Oil and Engineering Services. The statement signed by Barrister Grace Enenmoh-Olowofoyeku, wife of the founder, said all entreaties for Quest company to make full payment had been left unheaded. She, therefore, warned that no member of the public, whether individual or corporate body, should allow himself or itself to be led into believing that the partner company has full rights over the property of Ascon Oil enough for them to be able to dispose of any asset of the company. She said, “Until Quest Oil and Engineering Services Limited discharges all its responsibilities as entrenched in the agreement, we appeal to members of the public, especially the business community, to stay clear of the assets of Ascon Oil Company Limited/Quest Oil and Engineering Services Limited.”
Though we could not get the reaction of Quest Oil and Engineering Services, the family did not deny that they are in partnership, except that Quest has reportedly failed to fulfill its responsibilities as contained in the agreement signed in 2019.
Engineer Enenmoh who founded the oil company died in the air crash involving Bellview Airline in 2005. Though the family through Barrister Enenmoh-Olowofoyeku, who was then the managing director ran the company until it ran into financial crisis in 2019, and they needed support to run it. The Quest Oil and Engineering Services company offered to purchase the company, and an agreement was entered into. The bone of contention now is that Engineer Enenmoh’s family says the partner is yet to fulfill its obligations as requested by the agreement signed in 2019 and therefore is not yet legally the sole owner of the company.
It is, therefore, the position of the family, as indicated in the statement, that “Until Quest Oil and Engineering Services Limited fulfills all its obligations in the agreement and pays the purchase price in full, they have no right to sell any of the assets.”
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