Timeline First wells to be drilled 4 years out. Major wait time for potential investors to even know if oil can be economically recovered. Look at their presentation, all the onshore and offshore blocks will not be touched by drilling until year 4. So for the next 3 to 4 years, a ton of preparatory work needs to be completed to determine best drill locations (Seismic survey, analysis, etc).
Don't buy this with a long term outlook - it's too long, especially when no one knows what oil prices will be in 4 years time and if such oil will be economically recoverable given the oil price at that time and supply/demand picture for oil. How much will natural gas vehicles, electric, etc reduce world oil demand in 4 years time? 200 billion barrels in South China sea, how will this affect oil prices in 4 years time? 4 years to wait for first well is a really long time to wait so be cautious on the buy side here.