<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 2,936,678 <SECURITIES> 49,583 <RECEIVABLES> 683,715 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,020,425 <PP&E> 65,259,691 <DEPRECIATION> 13,946,920 <TOTAL-ASSETS> 59,380,401 <CURRENT-LIABILITIES> 2,302,466 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 4,135,038 <TOTAL-LIABILITY-AND-EQUITY> 59,380,401 <SALES> 4,174,415 <TOTAL-REVENUES> 4,235,464 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,714,568 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,167,162 <INCOME-PRETAX> 413,002 <INCOME-TAX> 0 <INCOME-CONTINUING> 413,002 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 413,002 <EPS-PRIMARY> 2.33 <EPS-DILUTED> 2.33