It is a concentrated parafinnic oil. Both 2-stroke and 4-stroke. High in ZDDP. It's a great break-in oil for a 4-stroke for a couple seasons before synthetic. It is a very costly oil. The mower shop used to charge me $ 6/qt for the 4 cycle oil and double that for 2-cycle oil. Now the 2-cycle oil is supposed to be diluted 100:1 for all engines and applications.
I found that my equiptment overheated a bit at 100:1 and the RPM's were lagging. At 50:1 you would be fine.
Good stuff...sounds like you got a deal...dealers overcharge as they offer an extra 2 year warranty with any new equiptment purchase.
You may have gotten $24.00 retail for $2.00...not bad...just go with the 80:1 or 50:1 better yet (manufacturer's spec) and you will be good.
FYI I switched to Amsoil Sabre' at 50:1 and my equitpment runs the best of all....Sabre' is amazing..the best 2-cycle synthetic oil in my humble opinion.