<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