That black stripe over yellow label was first used around 1995 and ran through the early 2000s. That color scheme was used on trucks, race cars, signage, what have you. Intentionally or not, it coincides with the period of SJ being the current spec.
There should be an alpha numeric code containing about five characters printed on the bottom of the bottle and/or the side of the box. If you post it here, we can tell you the day it was packaged.
I only see a little dark residue and just in the corner, absolutely not even coating the entire bottom of the bottle.3539 is the stock number. If you look at the UPC code, you'll see it's the last four digits. The other printing seems illegible.
What we're looking for is something that would look a lot like this: OF22G. This decodes as O for Oil City canning plant, F for June, 22 is the date, and G for 1997.
That method of coding was discontinued at some time after the merger with Quaker State in 1999, but so was the four digit stock number, which we still see in use here. The address still says Pennzoil Products Co, not yet Pennzoil-Quaker State. In and of itself, that's not especially meaningful because containers with out of date information were used until supplies were depleted.
In any event, there are several indications this oil dates to the late '90s. It's understandable if you're hesitant to use it. I agree with the earlier post that suggested to pour out a quart into a clean container and look for residue on the bottom of the bottle. If there is a very thin film, I wouldn't hesitate to use it. If there is more than say 1/16th of an inch, that's an indication of pretty serious additive fallout. I'd still use it in OPE, but maybe not a new, expensive piece.
I also have a few Exxon Super Flow, I believe in red bottles.I'm still using Exxon Superflo that was bought in the mid 90's in one of my cars. I say pour it in and let it do it's job. Last time the oil was changed in my mom's '99 Grand Marquis I found 6 quarts of Amoco Ultimate that I suspect is some I gave dad back in the '80's and there's been no problems using it. If oil has a 4 year shelf life someone needs to tell that to my cars. They've all been running on 10-25+ year old oil for at least the last 10+ years. If I tossed all my 4+ year old oil in the trash I'd probably lose about 50 gallons of perfectly good oil.
Mine is 10w40 also in red bottles. I had that oil in my garage when I bought my '97 Ford Escort new in Feb. 1998. Other than the factory fill that's all that's ever been used in it. Back in the '80's I bought lots of Exxon Superflo and Amoco Ultimate since Western Auto would run a sale about every other week on one or the other for $5 a 12 quart case with a $5. rebate. All a case of oil was costing me was what ever a postage stamp cost to send in the rebate. I've also got a few cardboard cans of Castrol 20w50 left that I bought for a motorcycle in the mid '80's.I also have a few Exxon Super Flow, I believe in red bottles.