<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