<ARTICLE>                               5
<LEGEND>
This schedule contains summary financial information extracted
from the first quarter Form 10-Q and is qualified in its entirety
by reference to such Form 10-Q.
</LEGEND>
<MULTIPLIER>                            1
       
                                     
<PERIOD-TYPE>                           6-MOS
<FISCAL-YEAR-END>                       Jul-31-1996
<PERIOD-START>                          Aug-01-1995
<PERIOD-END>                            Jan-31-1996
<CASH>                                      441,990
<SECURITIES>                              2,919,851
<RECEIVABLES>                               314,358
<ALLOWANCES>                                      0
<INVENTORY>                                       0
<CURRENT-ASSETS>                          4,762,545
<PP&E>                                   45,283,080
<DEPRECIATION>                           19,263,960
<TOTAL-ASSETS>                           37,491,104
<CURRENT-LIABILITIES>                     2,420,291
<BONDS>                                           0
<COMMON>                                  2,178,297
<PREFERRED-MANDATORY>                             0
<PREFERRED>                                       0
<OTHER-SE>                               24,947,231
<TOTAL-LIABILITY-AND-EQUITY>             37,491,104
<SALES>                                           0
<TOTAL-REVENUES>                          4,494,435
<CGS>                                             0
<TOTAL-COSTS>                                     0
<OTHER-EXPENSES>                          4,626,478
<LOSS-PROVISION>                                  0
<INTEREST-EXPENSE>                          340,243
<INCOME-PRETAX>                            (347,120)
<INCOME-TAX>                               (111,000)
<INCOME-CONTINUING>                        (236,120)
<DISCONTINUED>                                    0
<EXTRAORDINARY>                                   0
<CHANGES>                                         0
<NET-INCOME>                               (236,120)
<EPS-PRIMARY>                                  (.11)
<EPS-DILUTED>                                   .00