Ann: Credit Facility Amendment, page-22

OEL are already hedged ~ 70% of current production which will exceed 1900 bpd.

As mentioned above, I' picking the 1900 boepd is aimed at ensuring OEL cannot sell off SM71 or Lightning without tripping that covenant. as both are contributing around half of current boepd production. Given the asset sales strategy has been introduced since the original loan agreement, and GC21 hasn't performed, Macbank will have introduced the 1900 boded clause to effectively hold covenant over both producing assets in exchange for extending the timeline for Tranche A2.