<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 1,617,354 <SECURITIES> 0 <RECEIVABLES> 551,475 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,345,686 <PP&E> 67,939,918 <DEPRECIATION> 15,837,348 <TOTAL-ASSETS> 58,084,386 <CURRENT-LIABILITIES> 2,510,725 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 3,175,897 <TOTAL-LIABILITY-AND-EQUITY> 58,084,386 <SALES> 4,220,254 <TOTAL-REVENUES> 4,272,830 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,940,947 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,163,576 <INCOME-PRETAX> 197,604 <INCOME-TAX> 0 <INCOME-CONTINUING> 197,604 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 197,604 <EPS-PRIMARY> 1.16 <EPS-DILUTED> 1.16