First, nice looking knife. Second, Macassar ebony is one of my favorite woods for knife and gun handles. Just beautiful, and you smoothed those scales nicely, from what I can see.
There have been several good suggestions from Salem Straub, S. Alexander, mete, and Matt R. The only other suggestions I can offer is first, I would not recommend using mineral spirits to get rid of the oil, or for pre-glue up. It is an oily solvent itself, and could leave behind a residue that could cause adhesion problems. I recommend acetone, lacquer thinner, or denatured alcohol. I use denatured, as it is very handy for other things as well, and doesn't defat the skin as much/isn't quite as nasty for you.
The Tru-oil is very popular for good reason. It dries very tough, is fool proof easy to work with, and only takes 2-3 light coats to seal up the wood nicely. After wiping down with a solvent to de-oil the wood, just rub in a coat of Tru-Oil with your finger or a rag/paper towel, let it sit till it sets up, then wipe most of it back off. Let the first coat especially dry overnight. It takes longer to dry as some of it is below the surface of the wood, in the pores. The next day, take a piece of 400 or 600 grit, rub on some more Tru-Oil, and very lightly sand it in. Just a couple of seconds is all it takes, to knock off the raised grain. You don't want to break through the first coat, or the grain may raise again.
Let this second coat set up, just like the first, then wipe off the excess. I usually do the second coat first thing in the morning, and occasionally hit it lightly with the heat gun throughout the day. Then I can put the third and final coat on at the end of the day. The next day, I will take a piece of #0000 steel wool, dip it in wax (COLORED this time, lol), and lightly rub down the handle. After a few minutes, when the wax has set up, I rub it off with a cloth, then either buff it by hand, or hit it lightly on the buffer. Feels like silk. Just don't make the mistake of building up the Tru-Oil real thick. The strength and beauty of an oil finish is in it's thinness. You don't want a handle that looks and feels like plastic.
Hope that wasn't too much information, and that it proves useful. Please let us know how it goes.
Sam :thumbup: