<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> APR-01-1996 <PERIOD-END> JUN-30-1996 <CASH> 4,847,244 <SECURITIES> 0 <RECEIVABLES> 2,839,914 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 7,687,158 <PP&E> 7,411,829 <DEPRECIATION> 119,323 <TOTAL-ASSETS> 14,979,664 <CURRENT-LIABILITIES> 558,476 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 14,421,188 <TOTAL-LIABILITY-AND-EQUITY> 14,979,664 <SALES> 306,622 <TOTAL-REVENUES> 340,013 <CGS> 0 <TOTAL-COSTS> 80,861 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 259,152 <INCOME-TAX> 0 <INCOME-CONTINUING> 259,152 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 259,152 <EPS-PRIMARY> 0 <EPS-DILUTED> 0