That works quite well, just need to be careful not to sand the wood down too far. You can also use 10 second glue as well.
Damn I cocked that up. You can use acetone to get some of the oil out and you can also use a heat gun to lift the oil to the surface of the stock wood
and then wipe it off with a clean rag. The ding you showed in the photos wont take much to fix.
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