<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE JUNE 30,
1998 BALANCE SHEET AND THE STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE SIX
MONTHS ENDED JUNE 30, 1998 INCLUDED IN THE COMPANY'S JUNE 30, 1998 10-Q AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                          99,507
<SECURITIES>                                         0
<RECEIVABLES>                                4,173,167<F1>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             4,272,674
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              82,772,674<F2>
<CURRENT-LIABILITIES>                                0
<BONDS>                                              0
<COMMON>                                         2,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  2,726,700
<OTHER-SE>                                  82,043,974<F3>
<TOTAL-LIABILITY-AND-EQUITY>                82,772,674
<SALES>                                              0
<TOTAL-REVENUES>                             2,944,529<F4>
<CGS>                                                0
<TOTAL-COSTS>                                  132,340
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              2,812,189
<INCOME-TAX>                                  (12,000)
<INCOME-CONTINUING>                          2,824,189
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,824,189
<EPS-PRIMARY>                                     1.77
<EPS-DILUTED>                                     1.77
<FN>
<F1>Receivables are due from affiliated companies.
<F2>An investment in preferred shares of Chieftain International (U.S.) Inc., at
cost of $78,500,000 has been included in total assets.
<F3>Additional paid-in capital of $14,998,000 (attributable to common stock) and
$60,676,203 (attributable to preferred stock) has been added to retained
earnings of $4,369,771 in calculating other stockholders' equity.
<F4>Revenues are earned exclusively from transactions with parent company.
</FN>