<ARTICLE> 5 <PERIOD-TYPE> 6-MOS 6-MOS <FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997 <PERIOD-END> JUN-30-1998 JUN-30-1997 <CASH> 46,000 3,423,000 <SECURITIES> 0 0 <RECEIVABLES> 33,000 102,000 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 927,000 3,587,000 <PP&E> 25,094,000 19,935,000 <DEPRECIATION> 9,000 3,000 <TOTAL-ASSETS> 26,312,000 23,519,000 <CURRENT-LIABILITIES> 1,434,000 231,000 <BONDS> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 4,550,000 4,500,000 <COMMON> 5,121,000 4,971,000 <OTHER-SE> 14,997,000 13,607,000 <TOTAL-LIABILITY-AND-EQUITY> 26,312,000 23,519,000 <SALES> 0 0 <TOTAL-REVENUES> 450,000 162,000 <CGS> 0 0 <TOTAL-COSTS> 1,636,000 743,000 <OTHER-EXPENSES> 690,000 289,000 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 63,000 130,000 <INCOME-PRETAX> (1,939,000) (1,000,000) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (1,939,000) (1,000,000) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (1,939,000) (1,000,000) <EPS-PRIMARY> (.038) (.025) <EPS-DILUTED> (.038) (.025)