<ARTICLE> 5 <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <EXCHANGE-RATE> 1 <CASH> 77,126 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 96,251 <PP&E> 128,877 <DEPRECIATION> 9,981 <TOTAL-ASSETS> 223,390 <CURRENT-LIABILITIES> 25,530 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 143,104 <OTHER-SE> (34,524) <TOTAL-LIABILITY-AND-EQUITY> 223,390 <SALES> 0 <TOTAL-REVENUES> 27,327 <CGS> 0 <TOTAL-COSTS> 29,994 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,284 <INCOME-PRETAX> (3,014) <INCOME-TAX> 0 <INCOME-CONTINUING> (3,014) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,014) <EPS-PRIMARY> (.19) <EPS-DILUTED> (.19)