<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL  INFORMATION EXTRACTED FROM THE BALANCE
SHEET AT JUNE 30, 1997 AND THE  STATEMENT  OF  OPERATIONS  FOR THE THREE  MONTHS
ENDED JUNE 30,  1997 AND IS  QUALIFIED  IN ITS  ENTIRETY  BY  REFERENCE  TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                    1,000
<CURRENCY>                      U.S. DOLLAR
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 MAR-31-1997
<PERIOD-END>                                   JUN-30-1997
<EXCHANGE-RATE>                                          1
<CASH>                                             101,436
<SECURITIES>                                             0
<RECEIVABLES>                                            0
<ALLOWANCES>                                             0
<INVENTORY>                                              0
<CURRENT-ASSETS>                                   111,608
<PP&E>                                           9,144,212
<DEPRECIATION>                                           0
<TOTAL-ASSETS>                                   9,255,821
<CURRENT-LIABILITIES>                              307,568
<BONDS>                                                  0
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                              0
<COMMON>                                         8,948,252
<OTHER-SE>                                               0
<TOTAL-LIABILITY-AND-EQUITY>                     9,255,820
<SALES>                                                  0
<TOTAL-REVENUES>                                     1,514
<CGS>                                                    0
<TOTAL-COSTS>                                            0
<OTHER-EXPENSES>                                    34,800
<LOSS-PROVISION>                                         0
<INTEREST-EXPENSE>                                   7,823
<INCOME-PRETAX>                                    (41,109)
<INCOME-TAX>                                             0
<INCOME-CONTINUING>                                      0
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                       (41,109)
<EPS-PRIMARY>                                            0
<EPS-DILUTED>                                            0