<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-10-1997 <PERIOD-END> MAR-31-1997 <CASH> 367,337 <SECURITIES> 0 <RECEIVABLES> 228,728 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 596,065 <PP&E> 16,910,778 <DEPRECIATION> 48,831 <TOTAL-ASSETS> 17,458,012 <CURRENT-LIABILITIES> 109,509 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 17,348,503 <TOTAL-LIABILITY-AND-EQUITY> 17,458,012 <SALES> 477,607 <TOTAL-REVENUES> 506,508 <CGS> 0 <TOTAL-COSTS> 94,340 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 412,168 <INCOME-TAX> 0 <INCOME-CONTINUING> 412,168 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 412,168 <EPS-PRIMARY> 0 <EPS-DILUTED> 0