The family of the late founder of Ascon Oil Company Limited, Engineer George Ikemefuna Enenmoh, has reiterated its claim as the “absolute owner” of the company until the full payment of the shares purchase agreement signed with Quest Oil and Engineering Services Limited in 2019.
This assertion was made in a press statement issued by Barrister Grace Enenmoh-Olowofoyeku, the matriarch of the family and former Group Managing Director of Ascon Oil Company Limited.
Despite efforts to encourage Quest Oil to meet its payment obligations, the family noted that the company had been delaying the payment. The Enenmoh family has therefore warned the public and the business community against negotiating or entertaining any intentions to sell the company’s assets until Quest Oil fulfills its obligations.
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The family has firmly stated that anyone attempting to buy assets from Ascon Oil or Quest Oil before the full payment is made does so at their own risk. Barrister Enenmoh-Olowofoyeku emphasized that the family retains full ownership of the company until all conditions in the agreement are met.
Ascon Oil, once a key player in the downstream oil and gas sector, had numerous filling stations, sea-going vessels, and tank farms across Lagos and Ogun States. Following the tragic death of its founder in the 2005 Bellview Airlines crash, leadership of the company passed to his wife, Barrister Grace Enenmoh.
