<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-2000 <PERIOD-END> MAR-31-2000 <CASH> 3,328,000 <SECURITIES> 0 <RECEIVABLES> 6,022,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 9,350,000 <PP&E> 220,332,000 <DEPRECIATION> 8,209,000 <TOTAL-ASSETS> 235,676,000 <CURRENT-LIABILITIES> 6,918,000 <BONDS> 0 <PREFERRED-MANDATORY> 53,079,000 <PREFERRED> 0 <COMMON> 922,000 <OTHER-SE> 2,841,000 <TOTAL-LIABILITY-AND-EQUITY> 235,676,000 <SALES> 10,805,000 <TOTAL-REVENUES> 10,805,000 <CGS> 6,784,000 <TOTAL-COSTS> 6,784,000 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 925,000 <INCOME-PRETAX> 3,122,000 <INCOME-TAX> 1,187,000 <INCOME-CONTINUING> 1,935,000 <DISCONTINUED> 0 <EXTRAORDINARY> 1,051,000 <CHANGES> 0 <NET-INCOME> (532,000) <EPS-BASIC> (.01) <EPS-DILUTED> (.01)