<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-END> MAR-31-1995 <CASH> 1,287,000 <SECURITIES> 0 <RECEIVABLES> 506,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 506,000 <PP&E> 21,360,000 <DEPRECIATION> (7,478,000) <TOTAL-ASSETS> 16,463,000 <CURRENT-LIABILITIES> 260,000 <BONDS> 6,899,000 <COMMON> 16,791,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (7,672,000) <TOTAL-LIABILITY-AND-EQUITY> 16,463,000 <SALES> 0 <TOTAL-REVENUES> 927,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 821,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 176,000 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (70,000) <EPS-PRIMARY> (0.04) <EPS-DILUTED> (0.04)