<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                       5,440,276
<SECURITIES>                                         0
<RECEIVABLES>                                4,207,768
<ALLOWANCES>                                  (35,900)
<INVENTORY>                                     95,200
<CURRENT-ASSETS>                             9,885,098
<PP&E>                                      95,624,773
<DEPRECIATION>                            (31,369,541)
<TOTAL-ASSETS>                              75,628,247
<CURRENT-LIABILITIES>                        5,705,731
<BONDS>                                     29,598,660
<COMMON>                                        58,048
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        457
<OTHER-SE>                                  37,447,602
<TOTAL-LIABILITY-AND-EQUITY>                75,628,247
<SALES>                                              0
<TOTAL-REVENUES>                             4,532,418
<CGS>                                                0
<TOTAL-COSTS>                                3,046,129
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             857,705
<INCOME-PRETAX>                                628,584
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            628,584
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                121,123
<CHANGES>                                            0
<NET-INCOME>                                   507,461
<EPS-PRIMARY>                                      .08
<EPS-DILUTED>                                      .08