<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>                                                       6-MOS
<FISCAL-YEAR-END>                                               Jul-31-1999
<PERIOD-START>                                                  Aug-01-1998
<PERIOD-END>                                                    Jan-31-1999
<CASH>                                                            1,277,355

<SECURITIES>                                                        138,908
<RECEIVABLES>                                                       270,140
<ALLOWANCES>                                                              0
<INVENTORY>                                                               0
<CURRENT-ASSETS>                                                  2,617,962
<PP&E>                                                           50,523,571
<DEPRECIATION>                                                   22,109,134
<TOTAL-ASSETS>                                                   41,500,966
<CURRENT-LIABILITIES>                                             3,729,204
<BONDS>                                                                   0
<COMMON>                                                          2,178,297
<PREFERRED-MANDATORY>                                                     0
<PREFERRED>                                                               0
<OTHER-SE>                                                       28,392,619
<TOTAL-LIABILITY-AND-EQUITY>                                     41,500,966
<SALES>                                                                   0
<TOTAL-REVENUES>                                                  5,304,421
<CGS>                                                                     0
<TOTAL-COSTS>                                                             0
<OTHER-EXPENSES>                                                  4,282,078
<LOSS-PROVISION>                                                          0
<INTEREST-EXPENSE>                                                  348,558
<INCOME-PRETAX>                                                           0
<INCOME-TAX>                                                        315,000
<INCOME-CONTINUING>                                                 498,444
<DISCONTINUED>                                                            0
<EXTRAORDINARY>                                                           0
<CHANGES>                                                                 0
<NET-INCOME>                                                        498,444
<EPS-PRIMARY>                                                          0.23
<EPS-DILUTED>                                                          0.00