<ARTICLE> 5 <LEGEND> No </LEGEND> <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <EXCHANGE-RATE> 1 <CASH> 19,858,490 <SECURITIES> 0 <RECEIVABLES> 264,136 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 20,122,626 <PP&E> 38,125,000 <DEPRECIATION> 0 <TOTAL-ASSETS> 58,247,626 <CURRENT-LIABILITIES> 3,739,251 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 54,508,375 <TOTAL-LIABILITY-AND-EQUITY> 58,247,626 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 0 <EPS-PRIMARY> 0 <EPS-DILUTED> 0