<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-31-1998 <PERIOD-START> Aug-01-1997 <PERIOD-END> Jan-31-1998 <CASH> 1,065,418 <SECURITIES> 3,221,326 <RECEIVABLES> 281,529 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,283,404 <PP&E> 49,329,279 <DEPRECIATION> 21,140,872 <TOTAL-ASSETS> 41,899,936 <CURRENT-LIABILITIES> 3,622,918 <BONDS> 0 <COMMON> 2,178,297 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 26,556,025 <TOTAL-LIABILITY-AND-EQUITY> 41,899,936 <SALES> 0 <TOTAL-REVENUES> 5,605,592 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 4,262,031 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 418,432 <INCOME-PRETAX> 1,057,761 <INCOME-TAX> 386,000 <INCOME-CONTINUING> 671,761 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 671,761 <EPS-PRIMARY> 0.31 <EPS-DILUTED> 0.00