<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> MAY-31-1996 <PERIOD-END> AUG-31-1995 <CASH> 1,171,052 <SECURITIES> 0 <RECEIVABLES> 115,896 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,272,047 <PP&E> 46,825,812 <DEPRECIATION> 26,088,567 <TOTAL-ASSETS> 23,059,007 <CURRENT-LIABILITIES> 1,627,345 <BONDS> 0 <COMMON> 2,004,014 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 23,059,007 <SALES> 1,490,288 <TOTAL-REVENUES> 1,490,288 <CGS> 0 <TOTAL-COSTS> 1,321,663 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (221,831) <INCOME-PRETAX> (28,394) <INCOME-TAX> (10,800) <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (17,594) <EPS-PRIMARY> (.01) <EPS-DILUTED> 0