<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> SEP-30-1998 <CASH> 3,435,197 <SECURITIES> 0 <RECEIVABLES> 4,584,359 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 10,027,045 <PP&E> 71,003,122 <DEPRECIATION> 0 <TOTAL-ASSETS> 81,424,377 <CURRENT-LIABILITIES> 14,383,590 <BONDS> 0 <PREFERRED-MANDATORY> 29,974,454 <PREFERRED> 0 <COMMON> 103,750 <OTHER-SE> 30,879,927 <TOTAL-LIABILITY-AND-EQUITY> 81,424,377 <SALES> 5,696,543 <TOTAL-REVENUES> 5,696,543 <CGS> 4,498,382 <TOTAL-COSTS> 4,498,382 <OTHER-EXPENSES> 2,054,240 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 8,587 <INCOME-PRETAX> (578,979) <INCOME-TAX> (162,551) <INCOME-CONTINUING> (416,428) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (416,428) <EPS-PRIMARY> (.25) <EPS-DILUTED> (.25)