SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Oct. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of disaggregation of revenue

	Three Months Ended October 31,
	2018		2017
Base overriding royalties	$	8,349,255	$	6,655,167
Bonus royalties		5,422,575		4,136,894
Fee royalties		119,443		106,554
Total royalty income	$	13,891,273	$	10,898,615

	Nine Months Ended October 31,
	2018		2017
Base overriding royalties	$	23,652,703	$	16,560,379
Bonus royalties		15,572,478		12,960,058
Fee royalties		437,831		368,781
Total royalty income	$	39,663,012	$	29,889,218