SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jul. 31, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of disaggregation of revenue

	Three Months Ended July 31,
	2020		2019
Base overriding royalties	$	4,174,785	$	8,326,504
Bonus royalties		3,043,576		5,818,223
Fee royalties		—		157,111
Total royalty income	$	7,218,361	$	14,301,838

	Six Months Ended July 31,
	2020		2019
Base overriding royalties	$	5,356,796	$	11,394,522
Bonus royalties		3,823,288		7,925,180
Fee royalties		173,771		343,925
Total royalty income	$	9,353,855	$	19,663,627