<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> AUG-31-1999 <PERIOD-END> FEB-28-1999 <CASH> 1,519 <SECURITIES> 0 <RECEIVABLES> 347 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,866 <PP&E> 47,979 <DEPRECIATION> 12,774 <TOTAL-ASSETS> 37,513 <CURRENT-LIABILITIES> 459 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 130 <COMMON> 75 <OTHER-SE> 36,219 <TOTAL-LIABILITY-AND-EQUITY> 37,513 <SALES> 0 <TOTAL-REVENUES> 3,800 <CGS> 0 <TOTAL-COSTS> 2,139 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 1,661 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,661 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,661 <EPS-BASIC> .22 <EPS-DILUTED> .22