<ARTICLE> 5
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                           20664
<SECURITIES>                                     13123
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 31815
<PP&E>                                           35019
<DEPRECIATION>                                     692
<TOTAL-ASSETS>                                   74349
<CURRENT-LIABILITIES>                             6496
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        101677
<OTHER-SE>                                     (34781)
<TOTAL-LIABILITY-AND-EQUITY>                     74349
<SALES>                                              0
<TOTAL-REVENUES>                                   947
<CGS>                                                0
<TOTAL-COSTS>                                     1836
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   9
<INCOME-PRETAX>                                  (889)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              (889)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (889)
<EPS-PRIMARY>                                    (.04)
<EPS-DILUTED>                                    (.04)