<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 941,523 <SECURITIES> 0 <RECEIVABLES> 3,672,082 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,237,898 <PP&E> 107,575,852 <DEPRECIATION> 62,812,210 <TOTAL-ASSETS> 50,502,329 <CURRENT-LIABILITIES> 2,134,627 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 12,751,100 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 50,502,329 <SALES> 4,842,278 <TOTAL-REVENUES> 5,087,004 <CGS> 0 <TOTAL-COSTS> 3,944,167 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 150,323 <INCOME-PRETAX> 992,514 <INCOME-TAX> 212,139 <INCOME-CONTINUING> 780,375 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 780,375 <EPS-PRIMARY> .06 <EPS-DILUTED> .06