2.5M acres Permian Shale, page-4

Hi all,

Found this share through word of mouth..just trying to get my head around a few things. I've had a brief overview of investor presentation and I've got a few questions if anyone has a spare minute to answer:
What is the time frame from now to becoming production rather than exploration?
Once drilling commences; the time frame for pfs or DFS to be completed?
Conversations with JV or sophisticated adventure?
What are the downsides other than the location?
It all appears up; apart from trading volume..is there a lot of speculation the drilling won't be fruitful? Investors waiting until drilling commences?
I'm a novice in regards to oil and gas...so I'm trying to delineate between the two in regards of steps from right now till operational or big fish come in?
If anyone can help, I'd be very grateful.
Many thanks in advance!