<ARTICLE> 5 <PERIOD-TYPE> 3-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-2000 DEC-31-1999 <PERIOD-END> MAR-31-2000 MAR-31-1999 <CASH> 238,000 23,000 <SECURITIES> 0 0 <RECEIVABLES> 814,000 23,000 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 1,173,000 735,000 <PP&E> 45,497,000 38,251,000 <DEPRECIATION> 44,000 39,000 <TOTAL-ASSETS> 51,355,000 41,303,000 <CURRENT-LIABILITIES> 1,389,000 3,676,000 <BONDS> 0 0 <PREFERRED-MANDATORY> 5,288,000 5,200,000 <PREFERRED> 0 0 <COMMON> 0 0 <OTHER-SE> 21,551,000 22,851,000 <TOTAL-LIABILITY-AND-EQUITY> 51,355,000 41,303,000 <SALES> 0 0 <TOTAL-REVENUES> 395,000 250,000 <CGS> 0 0 <TOTAL-COSTS> (768,000) (438,000) <OTHER-EXPENSES> (1,131,000) (347,000) <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> (889,000) (54,000) <INCOME-PRETAX> (2,393,000) (589,000) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (2,393,000) (589,000) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (2,393,000) (589,000) <EPS-BASIC> (2.53) (0.69) <EPS-DILUTED> (2.53) (0.69)