After getting my peas last fall, I let them out this summer to free range on about 80 acres, & they probably only range on about 7 of those, that I know of. I do have alot of big cottonwood trees around the yard & they roost in one of those at night. I got up one morning & missed seeing them out & about. They went missing until about 2 in the afternoon - so I dont know where they went because I searched every where near the yard. I dont have a fence to keep dogs or coyotes away, but I do have 2 mtn cur dogs to help protect our birds (+chickens). Do you only have 1 bird? The peas & chickens are very sociable and may feel very vulnerable without others of their kind to hang out with. You might want to try to find another buddy before letting him free range alone. Peas have been known to flee their home range to search for others of their kind....
There is a risk of predators, & I havent let my 3 older chicks out to free range yet. I will give them more time to gain some more size to them before letting them out, maybe another couple of months at least.
Good luck with what you decide to do.