<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1998 <CASH> 2,888,869 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,888,869 <PP&E> 18,010,575 <DEPRECIATION> 307,791 <TOTAL-ASSETS> 20,899,444 <CURRENT-LIABILITIES> 118,339 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 20,781,105 <TOTAL-LIABILITY-AND-EQUITY> 20,899,444 <SALES> 649,596 <TOTAL-REVENUES> 682,635 <CGS> 61,562 <TOTAL-COSTS> 61,562 <OTHER-EXPENSES> 179,974 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 441,099 <INCOME-TAX> 0 <INCOME-CONTINUING> 441,099 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 441,099 <EPS-PRIMARY> 6.38 <EPS-DILUTED> 6.38