<ARTICLE> 5

<LEGEND>
This schedule contains summary financial information extracted from the Annual
Report for the year ended July 31, 1996 and is qualified in its entirety by
reference to such Annual Report.
</LEGEND>
<MULTIPLIER>                1


       
                                        
<PERIOD-TYPE>                              12-MOS
<FISCAL-YEAR-END>                          JUL-31-1996
<PERIOD-START>                             AUG-01-1995
<PERIOD-END>                               JUL-31-1996
<CASH>                                         412,653
<SECURITIES>                                 2,792,800
<RECEIVABLES>                                  315,179
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             4,777,433
<PP&E>                                      45,793,630
<DEPRECIATION>                              19,713,124
<TOTAL-ASSETS>                              37,770,970
<CURRENT-LIABILITIES>                        2,625,461
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     2,178,297
<OTHER-SE>                                  24,962,786
<TOTAL-LIABILITY-AND-EQUITY>                37,770,970
<SALES>                                              0
<TOTAL-REVENUES>                             9,268,768
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             8,999,583
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             681,950
<INCOME-PRETAX>                               (163,286)
<INCOME-TAX>                                   (22,000)
<INCOME-CONTINUING>                           (141,286)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (141,286)
<EPS-PRIMARY>                                    (0.07)
<EPS-DILUTED>                                      .00