<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-1-1997 <PERIOD-END> DEC-31-1997 <CASH> 2,674,837 <SECURITIES> 0 <RECEIVABLES> 1,794,175 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 8,236,964 <PP&E> 45,082,833 <DEPRECIATION> 0 <TOTAL-ASSETS> 53,658,435 <CURRENT-LIABILITIES> 10,512,807 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 103,750 <OTHER-SE> 32,791,611 <TOTAL-LIABILITY-AND-EQUITY> 53,658,435 <SALES> 8,711,654 <TOTAL-REVENUES> 8,711,654 <CGS> 2,334,009 <TOTAL-COSTS> 6,282,623 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 98,024 <INCOME-PRETAX> 2,331,007 <INCOME-TAX> 2,300,267 <INCOME-CONTINUING> 30,740 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 30,740 <EPS-PRIMARY> 0.00 <EPS-DILUTED> 0.00