While the game is going through fast advancement I will post periodic snapshots of what the covenants situation which are generally descriptive rather than a collection of numbers, hooks, and boons:
1100: The covenant has just formed as an entity independent from it's parent covenant in Normandy. Its path up until now has been shaped by the needs of the parents covenant, a significant portion of which was ensuring vis income which was not subject to tourney. As such the covenant, working with the Norman conquerors of Southern Itally have established control over most of the vis sources in the region, destroying several small covenants in their spring or winter years, and gaining the enmity of one covenant which has survived the massive depletion of vis sources available to it. Of course the magi from the destroyed covenants did not disappear, and the new covenant already has quite the bad reputation, even though everything has been completely by the book.
The covenant has been awarded a piece of land on the coast consisting of the old town of Locri and about a half mile around, but since the nearest town is 6 miles away they could easily lay claim to any land within 2-3 miles and probably only have to worry about an increase in their rents when the Norman Lords found out.
The tower castle was built to keep out Saracen invaders, but it has now been a few years since the Saracens have attempted to land here or anywhere along this coast. It is known that they still wish to invade, and things are never certain when your border is a sea, but they seem more focused on more distant islands for the time being, and the siege engines have been moved to storage under the covenant. Several pools dry seawater to collect salt in rotation, and several acres of land grow cotton which the covenant carters take to the nearby town to trade for what covenant supplies are not produced locally, and occasionally may take some excess crafts good from the covenant to sell as well. All the surrounding territory has been claimed by the same Norman noble as the covenant pays rent to currently. The faerie regio in the Temple of Persephone has been largely unexplored, although the pool near the entrance is used for gathering corpus vis- the parent covenant took an approach of don't bother the faeries if they don't bother you, just keep bringing in the vis. Now, of course, you have more freedom...