<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-31-1999 <PERIOD-START> Aug-01-1998 <PERIOD-END> Oct-31-1998 <CASH> 1,520,022 <SECURITIES> 138,317 <RECEIVABLES> 335,884 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 25,584,994 <PP&E> 50,265,390 <DEPRECIATION> 21,854,765 <TOTAL-ASSETS> 41,436,756 <CURRENT-LIABILITIES> 1,560,651 <BONDS> 0 <COMMON> 2,178,297 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 28,143,610 <TOTAL-LIABILITY-AND-EQUITY> 41,436,756 <SALES> 0 <TOTAL-REVENUES> 2,679,905 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,080,839 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 172,849 <INCOME-PRETAX> 0 <INCOME-TAX> 169,000 <INCOME-CONTINUING> 321,315 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 321,315 <EPS-PRIMARY> 0.15 <EPS-DILUTED> 0.00