This issue is that your rect size and your image size don't match.
When you: [fooImage drawInRect:imageRect];
the image will be drawn skewed into that rectangle, which you've defined as CGRectMake(0, 0, 291, 130);
To get it to work, you need to create a second rectangle that expands the oval's rectangle to match the image'a width/height ratio. You can then use this second rectangle to draw the image so that the image will aspect-fill the oval.
This is some pseudo code that I've used in the past for similar problems:
// get the size of the image that we want to scale
CGSize imageSize = imageToDraw.size;
// get the size of the canvas we're trying to fill
CGSize canvasSize = imageRect.size;
// we need to see how the ratio of image width & height compare to the canvas
CGFloat horizontalRatio = canvasSize.width / imageSize.width;
CGFloat verticalRatio = canvasSize.height / imageSize.height;
// pick the ratio that requires the most scaling
CGFloat ratio = MAX(horizontalRatio, verticalRatio); //AspectFill
// calculate the size that we should draw the image so that it could fill
// the entire canvas with an aspect-fill rule
CGSize aspectFillSize = CGSizeMake(imageSize.width * ratio, imageSize.height * ratio);
// now draw the image, centering it and filling the canvas
[imageToDraw drawInRect:CGRectMake((canvasSize.width-aspectFillSize.width)/2,
(canvasSize.height-aspectFillSize.height)/2,
aspectFillSize.width,
aspectFillSize.height)];