<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