<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEETS AND STATEMENTS OF OPERATIONS AS OF AND FOR THE THREE MONTHS ENDED MARCH
31, 1999 AND IS QUALIFIED IN ITS ENTIREITY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                          20,298
<SECURITIES>                                    33,072
<RECEIVABLES>                                    2,260
<ALLOWANCES>                                        53
<INVENTORY>                                          0
<CURRENT-ASSETS>                                55,630
<PP&E>                                         232,730
<DEPRECIATION>                                (32,854)
<TOTAL-ASSETS>                                 296,706
<CURRENT-LIABILITIES>                           17,558
<BONDS>                                        141,814
<PREFERRED-MANDATORY>                           67,017
<PREFERRED>                                          0
<COMMON>                                           252
<OTHER-SE>                                      45,228
<TOTAL-LIABILITY-AND-EQUITY>                   296,706
<SALES>                                          3,316
<TOTAL-REVENUES>                                 3,316
<CGS>                                            4,025
<TOTAL-COSTS>                                    4,025
<OTHER-EXPENSES>                                 1,893
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               (949)
<INCOME-PRETAX>                                (1,653)
<INCOME-TAX>                                     (620)
<INCOME-CONTINUING>                            (1,033)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (1,033)
<EPS-BASIC>                                   (0.12)
<EPS-DILUTED>                                   (0.12)