<ARTICLE>                     5
<LEGEND>
     (This schedule contains financial information extracted from the
consolidated balance sheet and the consolidated statement of operations
and is qualified in its entirety by reference to such financial statements
</LEGEND>                                                
       
                             
<PERIOD-TYPE>                   year
<FISCAL-YEAR-END>                              OCT-31-1996
<PERIOD-END>                                   OCT-31-1996
<CASH>                                         151,870
<SECURITIES>                                   0
<RECEIVABLES>                                  19,751,419
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               21,362,586
<PP&E>                                         38,737,846
<DEPRECIATION>                                 0
<TOTAL-ASSETS>                                 105,931,172
<CURRENT-LIABILITIES>                          43,989,235
<BONDS>                                        0
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       402,322
<OTHER-SE>                                     (25,263,636)
<TOTAL-LIABILITY-AND-EQUITY>                   105,931,172
<SALES>                                        56,538,507
<TOTAL-REVENUES>                               56,538,507
<CGS>                                          0
<TOTAL-COSTS>                                  58,371,627
<OTHER-EXPENSES>                               (1,078,255)
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             7,634,263
<INCOME-PRETAX>                                (9,510,913)
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            (9,510,913)
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                1,149,817
<CHANGES>                                      0
<NET-INCOME>                                   (8,361,096)
<EPS-PRIMARY>                                  (.21)
<EPS-DILUTED>                                  (.21)