<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the contained quarterly 10-Q and is qualified in its entirety by reference to such Form 10-Q. </LEGEND> <MULTIPLIER> 1 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> Jul-31-1996 <PERIOD-START> Aug-01-1995 <PERIOD-END> Apr-30-1996 <CASH> 363,341 <SECURITIES> 2,738,805 <RECEIVABLES> 227,839 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,110,770 <PP&E> 45,492,526 <DEPRECIATION> 19,488,344 <TOTAL-ASSETS> 36,932,917 <CURRENT-LIABILITIES> 2,105,121 <BONDS> 0 <COMMON> 2,178,297 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 24,882,000 <TOTAL-LIABILITY-AND-EQUITY> 36,932,917 <SALES> 0 <TOTAL-REVENUES> 6,924,337 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 6,910,880 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 511,602 <INCOME-PRETAX> (311,587) <INCOME-TAX> (79,600) <INCOME-CONTINUING> (231,987) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (231,987) <EPS-PRIMARY> (0.11) <EPS-DILUTED> .00