<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-2000 <PERIOD-END> MAR-31-2000 <CASH> 1,965,788 <SECURITIES> 1,049,528 <RECEIVABLES> 16,563,169 <ALLOWANCES> 80,317 <INVENTORY> 0 <CURRENT-ASSETS> 5,674,262 <PP&E> 62,978,704 <DEPRECIATION> 8,501,203 <TOTAL-ASSETS> 85,717,755 <CURRENT-LIABILITIES> 3,579,891 <BONDS> 59,681,857 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 369,790 <OTHER-SE> 19,181,018 <TOTAL-LIABILITY-AND-EQUITY> 85,717,755 <SALES> 0 <TOTAL-REVENUES> 3,816,973 <CGS> 0 <TOTAL-COSTS> 1,865,182 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 766,049 <INCOME-PRETAX> 471,601 <INCOME-TAX> 0 <INCOME-CONTINUING> 471,601 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 471,601 <EPS-BASIC> 0.13 <EPS-DILUTED> 0.13