<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
consolidated financial statements of XCL Ltd. and Subsidiaries for fiscal year
ended December 31, 1997, and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                          32,215
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                33,967
<PP&E>                                          56,100
<DEPRECIATION>                                   1,000
<TOTAL-ASSETS>                                 119,089
<CURRENT-LIABILITIES>                           11,568
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      1,196
<COMMON>                                           217
<OTHER-SE>                                      39,412
<TOTAL-LIABILITY-AND-EQUITY>                   119,089
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                    8,058
<OTHER-EXPENSES>                               (3,613)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               8,450
<INCOME-PRETAX>                               (12,895)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                  (551)
<CHANGES>                                            0
<NET-INCOME>                                  (13,446)
<EPS-PRIMARY>                                   (1.03)
<EPS-DILUTED>                                   (1.03)