<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH 31, 1997 10Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 13,966,007 <SECURITIES> 0 <RECEIVABLES> 1,985,813 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 16,801,095 <PP&E> 36,447,571 <DEPRECIATION> 8,216,184 <TOTAL-ASSETS> 46,857,163 <CURRENT-LIABILITIES> 6,666,978 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 56,840 <OTHER-SE> 24,072,788 <TOTAL-LIABILITY-AND-EQUITY> 46,857,163 <SALES> 6,239,307 <TOTAL-REVENUES> 6,341,375 <CGS> 0 <TOTAL-COSTS> 4,486,962 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 602,645 <INCOME-PRETAX> 1,251,768 <INCOME-TAX> 490,000 <INCOME-CONTINUING> 761,768 <DISCONTINUED> 0 <EXTRAORDINARY> 181,000 <CHANGES> 0 <NET-INCOME> 580,768 <EPS-PRIMARY> .12 <EPS-DILUTED> 0