<ARTICLE> 5 <PERIOD-TYPE> 12-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1994 DEC-31-1995 <PERIOD-END> DEC-31-1994 MAR-31-1995 <CASH> 574,589 1,295,461 <SECURITIES> 0 0 <RECEIVABLES> 497,819 504,195 <ALLOWANCES> (7,428) (7,428) <INVENTORY> 0 0 <CURRENT-ASSETS> 0 0 <PP&E> 86,475,540 86,765,656 <DEPRECIATION> (49,450,647) (50,272,623) <TOTAL-ASSETS> 48,379,933 48,349,833 <CURRENT-LIABILITIES> 0 0 <BONDS> 52,878,850 52,651,667 <COMMON> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <OTHER-SE> (7,442,274) (7,954,129) <TOTAL-LIABILITY-AND-EQUITY> 48,379,933 48,349,833 <SALES> 17,375,904 4,367,665 <TOTAL-REVENUES> 17,428,487 4,397,005 <CGS> 0 0 <TOTAL-COSTS> 0 0 <OTHER-EXPENSES> 13,269,035 3,315,781 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 5,359,356 1,323,146 <INCOME-PRETAX> (1,199,904) (241,922) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (1,199,904) (241,922) <DISCONTINUED> 0 0 <EXTRAORDINARY> 292,539 0 <CHANGES> 0 0 <NET-INCOME> (907,365) (241,922) <EPS-PRIMARY> 0 0 <EPS-DILUTED> 0 0