<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Chancellor Group, Inc. and Subsidiaries April 30, 1996 financial statements and is qualified in its entirety by reference to such financial statements. </LEGEND> <CIK> 0000894544 <NAME> CHANCELLOR GROUP INC/ <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> JUL-31-1996 <PERIOD-END> APR-30-1996 <CASH> 23,517 <SECURITIES> 156,500 <RECEIVABLES> 2,549,579 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,147,082 <PP&E> 26,240,547 <DEPRECIATION> (756,153) <TOTAL-ASSETS> 28,947,818 <CURRENT-LIABILITIES> 1,157,104 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 2,100 <OTHER-SE> 21,319,511 <TOTAL-LIABILITY-AND-EQUITY> 28,947,818 <SALES> 2,783,207 <TOTAL-REVENUES> 2,783,207 <CGS> 0 <TOTAL-COSTS> 822,264 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,311 <INCOME-PRETAX> 2,369,382 <INCOME-TAX> 234,750 <INCOME-CONTINUING> 1,723,882 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,134,632 <EPS-PRIMARY> 1.13 <EPS-DILUTED> 1.13