<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
DECEMMBER 31, 1997 FORM 10-K AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH DECEMBER 31, 1997 FORM 10-K FILING.
</LEGEND>
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                       1,065,274
<SECURITIES>                                         0
<RECEIVABLES>                                  111,108
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,267,043
<PP&E>                                      43,406,356
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              49,303,530
<CURRENT-LIABILITIES>                        3,110,234
<BONDS>                                     13,197,173
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         3,947
<OTHER-SE>                                  26,587,487
<TOTAL-LIABILITY-AND-EQUITY>                49,303,530
<SALES>                                      1,135,855
<TOTAL-REVENUES>                             4,073,149
<CGS>                                                0
<TOTAL-COSTS>                                1,382,056
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              2,691,093
<INCOME-TAX>                                 1,070,544
<INCOME-CONTINUING>                          1,620,549
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                 85,771
<CHANGES>                                            0
<NET-INCOME>                                 1,706,320
<EPS-PRIMARY>                                     0.64
<EPS-DILUTED>                                     0.48