<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> 3-MOS <FISCAL-YEAR-END> Jul-31-1997 <PERIOD-START> Aug-01-1996 <PERIOD-END> Apr-30-1997 <CASH> 742,082 <SECURITIES> 2,728,583 <RECEIVABLES> 254,077 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,542,340 <PP&E> 48,707,816 <DEPRECIATION> 20,435,929 <TOTAL-ASSETS> 39,693,039 <CURRENT-LIABILITIES> 2,727,388 <BONDS> 0 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 25,213,465 <TOTAL-LIABILITY-AND-EQUITY> 39,693,039 <SALES> 0 <TOTAL-REVENUES> 7,343,860 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 6,634,501 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 520,435 <INCOME-PRETAX> 378,890 <INCOME-TAX> 161,000 <INCOME-CONTINUING> 217,890 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 217,890 <EPS-PRIMARY> 0.10 <EPS-DILUTED> 0.00