<ARTICLE> 5 <PERIOD-TYPE> 6-Mos <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-1-1996 <PERIOD-END> JUN-30-1996 <CASH> 2,331,872 <SECURITIES> 326,000 <RECEIVABLES> 3,103,364 <ALLOWANCES> (35,900) <INVENTORY> 94,183 <CURRENT-ASSETS> 5,648,529 <PP&E> 99,228,928 <DEPRECIATION> (36,684,044) <TOTAL-ASSETS> 77,522,590 <CURRENT-LIABILITIES> 5,733,701 <BONDS> 32,456,651 <PREFERRED-MANDATORY> 0 <PREFERRED> 457 <COMMON> 58,040 <OTHER-SE> 36,895,853 <TOTAL-LIABILITY-AND-EQUITY> 77,522,590 <SALES> 0 <TOTAL-REVENUES> 8,094,658 <CGS> 0 <TOTAL-COSTS> 6,243,669 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,456,424 <INCOME-PRETAX> 394,565 <INCOME-TAX> 0 <INCOME-CONTINUING> 394,565 <DISCONTINUED> 0 <EXTRAORDINARY> 218,788 <CHANGES> 0 <NET-INCOME> 175,777 <EPS-PRIMARY> .03 <EPS-DILUTED> .03