<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 3,518,975 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,518,975 <PP&E> 19,066,018 <DEPRECIATION> 0 <TOTAL-ASSETS> 22,584,993 <CURRENT-LIABILITIES> 119,585 <BONDS> 717,677 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 21,747,731 <TOTAL-LIABILITY-AND-EQUITY> 22,584,993 <SALES> 585,477 <TOTAL-REVENUES> 631,609 <CGS> 45,934 <TOTAL-COSTS> 45,934 <OTHER-EXPENSES> 144,629 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 441,046 <INCOME-TAX> 0 <INCOME-CONTINUING> 441,046 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 441,046 <EPS-PRIMARY> 8.95 <EPS-DILUTED> 8.95