<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> DEC-31-1997 <CASH> 1,458,000 <SECURITIES> 500,000 <RECEIVABLES> 697,000 <ALLOWANCES> 8,000 <INVENTORY> 0 <CURRENT-ASSETS> 2,754,000 <PP&E> 10,303,000 <DEPRECIATION> 1,091,000 <TOTAL-ASSETS> 13,395,000 <CURRENT-LIABILITIES> 1,879,000 <BONDS> 9,279,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 3,000 <OTHER-SE> 2,234,000 <TOTAL-LIABILITY-AND-EQUITY> 13,395,000 <SALES> 0 <TOTAL-REVENUES> 5,878,000 <CGS> 0 <TOTAL-COSTS> 4,703,000 <OTHER-EXPENSES> 2,279,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 749,000 <INCOME-PRETAX> (1,853,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (1,853,000) <DISCONTINUED> (728,000) <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (2,581,000) <EPS-PRIMARY> (.88) <EPS-DILUTED> (.88)