<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 1,288,000 <SECURITIES> 500,000 <RECEIVABLES> 1,124,000 <ALLOWANCES> 8,000 <INVENTORY> 0 <CURRENT-ASSETS> 2,682,000 <PP&E> 10,449,000 <DEPRECIATION> 1,212,000 <TOTAL-ASSETS> 13,327,000 <CURRENT-LIABILITIES> 1,487,000 <BONDS> 9,512,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 3,000 <OTHER-SE> 2,325,000 <TOTAL-LIABILITY-AND-EQUITY> 13,327,000 <SALES> 0 <TOTAL-REVENUES> 1,807,000 <CGS> 0 <TOTAL-COSTS> 1,403,000 <OTHER-EXPENSES> 152,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 223,000 <INCOME-PRETAX> 29,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 29,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 29,000 <EPS-PRIMARY> .01 <EPS-DILUTED> .01