SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jul. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of disaggregation of revenue

	Three Months Ended July 31,
	2019		2018
Base overriding royalties	$	8,326,504	$	11,445,963
Bonus royalties		5,818,223		7,515,672
Fee royalties		157,111		163,434
Total royalty income	$	14,301,838	$	19,125,069

	Six Months Ended July 31,
	2019		2018
Base overriding royalties	$	11,394,522	$	15,303,448
Bonus royalties		7,925,180		10,149,903
Fee royalties		343,925		318,388
Total royalty income	$	19,663,627	$	25,771,739