SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Oct. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of disaggregation of revenue

	Three Months Ended October 31,
	2019		2018
Base overriding royalties	$	3,674,830	$	8,349,255
Bonus royalties		2,640,101		5,422,575
Fee royalties		173,368		119,443
Total royalty income	$	6,488,299	$	13,891,273

	Nine Months Ended October 31,
	2019		2018
Base overriding royalties	$	15,069,353	$	23,652,703
Bonus royalties		10,565,280		15,572,478
Fee royalties		517,293		437,831
Total royalty income	$	26,151,926	$	39,663,012