"Oval" can be a variety of shapes. I suggest you use the equation for the area of an ellipse. Assume some convenient ratio of length-to-width.
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5.83
Approximately 0.94 miles.
If the parcel of land is rectangular, and its area is 15 acres, and one dimension is 2,500 ft,then the other dimension is(15 x 43,560)/(2,500) = 261ft4.32in
It depends on the shape of the area. If the shape of the 27-acre area is a square, then each side would be 1,084.49 feet long.
There is no limit to the maximum perimeter length of an area. To increase one dimension decrease the other. This can be done without limit. There is on the other hand a minimum