<ARTICLE> 5 <PERIOD-TYPE> 3-mos <FISCAL-YEAR-END> Dec-31-1996 <PERIOD-END> Mar-31-1996 <CASH> 1,893,497 <SECURITIES> 000 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 25,243,577 <DEPRECIATION> 11,583,289 <TOTAL-ASSETS> 15,784,192 <CURRENT-LIABILITIES> 515,793 <BONDS> 11,924,122 <COMMON> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <OTHER-SE> 3,337,277 <TOTAL-LIABILITY-AND-EQUITY> 15,784,192 <SALES> 000 <TOTAL-REVENUES> 936,985 <CGS> 000 <TOTAL-COSTS> 466,170 <OTHER-EXPENSES> 275,337 <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 252,623 <INCOME-PRETAX> (57,145) <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (57,145) <EPS-PRIMARY> (.72) <EPS-DILUTED> (.72)