<ARTICLE> 5
<LEGEND> This Schedule contains summary financial information
extracted from the consolidated balance sheets and consolidated
statements of operations and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                    6-MOS
<FISCAL-YEAR-END>                DEC-31-1997
<PERIOD-END>                     JUN-30-1998
<CASH>                            32,295,661
<SECURITIES>                               0
<RECEIVABLES>                     84,241,147
<ALLOWANCES>                               0
<INVENTORY>                                0
<CURRENT-ASSETS>                  37,611,216
<PP&E>                           121,182,641
<DEPRECIATION>                    (1,233,065)
<TOTAL-ASSETS>                   305,695,516
<CURRENT-LIABILITIES>             12,445,344
<BONDS>                           65,430,808
<COMMON>                             203,497
<PREFERRED-MANDATORY>                      0
<PREFERRED>                                0
<OTHER-SE>                       223,295,223
<TOTAL-LIABILITY-AND-EQUITY>     305,695,516
<SALES>                                    0
<TOTAL-REVENUES>                  14,584,107
<CGS>                                      0
<TOTAL-COSTS>                      3,445,668
<OTHER-EXPENSES>                   2,424,168
<LOSS-PROVISION>                           0
<INTEREST-EXPENSE>                 1,755,415
<INCOME-PRETAX>                    6,923,556
<INCOME-TAX>                       3,232,000
<INCOME-CONTINUING>                3,691,556
<DISCONTINUED>                             0
<EXTRAORDINARY>                            0
<CHANGES>                                  0
<NET-INCOME>                       3,691,556
<EPS-PRIMARY>                           0.19
<EPS-DILUTED>                           0.18