SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Oct. 31, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of disaggregation of revenue

	Three Months Ended October 31,
	2020		2019
Base overriding royalties	$	3,142,465	$	3,674,830
Bonus royalties		2,448,652		2,640,101
Fee royalties		145,034		173,368
Total royalty income	$	5,736,151	$	6,488,299

	Nine Months Ended October 31,
	2020		2019
Base overriding royalties	$	8,499,261	$	15,069,353
Bonus royalties		6,271,940		10,565,280
Fee royalties		318,805		517,293
Total royalty income	$	15,090,006	$	26,151,926