<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> APR-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 21,230,131 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 197,908,257 <DEPRECIATION> 30,310,000 <TOTAL-ASSETS> 202,978,809 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 44,976 <OTHER-SE> 34,533,173 <TOTAL-LIABILITY-AND-EQUITY> 202,978,809 <SALES> 0 <TOTAL-REVENUES> 6,610,272 <CGS> 0 <TOTAL-COSTS> 2,889,193 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,731,887 <INCOME-PRETAX> 989,192 <INCOME-TAX> 397,200 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 591,992 <EPS-PRIMARY> $.13 <EPS-DILUTED> $.13