SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jul. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of disaggregation of revenue

	Three Months Ended July 31,
	2018		2017
Base overriding royalties	$	11,445,963	$	7,258,798
Bonus royalties		7,515,672		6,857,645
Fee royalties		163,434		113,731
Total royalty income	$	19,125,069	$	14,230,174

	Six Months Ended July 31,
	2018		2017
Base overriding royalties	$	15,303,448	$	9,905,212
Bonus royalties		10,149,903		8,823,164
Fee royalties		318,388		262,227
Total royalty income	$	25,771,739	$	18,990,603