Hi there,
FIrst off - big fan of companies that are leveraging teh blockchain to re-invent how we do things today. What Hunter Technology is doing - effectivly enabling oil transactions on the blockchain - plays right into the strengths of blockchain technology. Is the company a buy? That is a far more difficult question.
First off - it is not generating revenue and has no proven business model. To your point, it is looking at testing its product next month. Assuming all goes well, it will still take time to analyze, adapt and make changes were appropriate before they actually prove their model. If it doesn't go well? Likely push viability further out. The company is already trading at a market cap of $50M with no pathway to revenue - at least not yet.
Secondly, they are not alone. IBM has partnered with a companies like Vertras and Trafigura on very similar blockchain products. For more details go to this link: https://www.ibm.com/blockchain/industries/oil-gas
Interesting, it has a nice whitepaper at the top of that site that explains why this is a viable and disruptive industry for oil & gas. This article also speaks to many competitors; https://oilprice.com/Energy/Energy-General/Blockchain-Changes-Face-Of-Oil-Trading.html
So while it is exiting, it won't be without competition and it certain is not first to market. One to keep an eye one, but will be highly volatile until it can start to prove its business model and onboard customers to generate meaningful revenue.
Mat