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I know it's not exactly the same, but I'll post it anyway. I had a '51 Mercury that sat under the stairs in my shop for at least 20 years. I did all the usual stuff (oil in the cylinders, made sure it turned over by hand, ran a compression test) and it looked real good. I got it ready on my run stand and turned it over with the plugs out 3 or 4 times for 10 seconds each; no oil pressure. I was getting concerned, so I removed the line to the mechanical oil pressure gauge. 3 or 4 more 10 second bursts and oil started coming out of the disconnected port. I hooked up the gauge again and another few turns and the oil pressure gauge started to show pressure . I then installed the plugs and the engine started almost immediately and showed good pressure. That was 6 years ago and the engine still runs great and shows good oil pressure (25 psi hot idle and 55 psi going down the road).
I can only surmise that over the long storage period, all of the oil drained out of the system. Why did it take so long to build up? Perhaps there was an airlock or something. All I know was that I was very nervous because it took so long to build pressure.