<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> Apr-30-1998 <CASH> 642,091 <SECURITIES> 3,484,710 <RECEIVABLES> 298,691 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 7,656,724 <PP&E> 49,443,654 <DEPRECIATION> 21,374,471 <TOTAL-ASSETS> 43,021,502 <CURRENT-LIABILITIES> 3,295,357 <BONDS> 0 <COMMON> 2,178,297 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 27,673,757 <TOTAL-LIABILITY-AND-EQUITY> 43,021,502 <SALES> 0 <TOTAL-REVENUES> 9,194,322 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 6,419,430 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 626,250 <INCOME-PRETAX> 0 <INCOME-TAX> 837,000 <INCOME-CONTINUING> 1,519,407 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,519,407 <EPS-PRIMARY> 0.71 <EPS-DILUTED> 0.00