<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> APR-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 5,230,394 <SECURITIES> 0 <RECEIVABLES> 177,030 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,407,424 <PP&E> 17,846,259 <DEPRECIATION> (72,516) <TOTAL-ASSETS> 23,181,167 <CURRENT-LIABILITIES> 196,601 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 22,982,566 <TOTAL-LIABILITY-AND-EQUITY> 23,181,167 <SALES> 593,299 <TOTAL-REVENUES> 774,138 <CGS> 0 <TOTAL-COSTS> 85,390 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 688,748 <INCOME-TAX> 0 <INCOME-CONTINUING> 688,748 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 688,748 <EPS-PRIMARY> 0 <EPS-DILUTED> 0