<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the 1998 Form 10-K and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 12-MOS 12-MOS <FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997 <PERIOD-END> DEC-31-1998 DEC-31-1997 <CASH> 121,000 3,423,000 <SECURITIES> 0 0 <RECEIVABLES> 445,000 102,000 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 1,398,000 3,587,000 <PP&E> 32,354,000 19,935,000 <DEPRECIATION> 17,000 3,000 <TOTAL-ASSETS> 34,324,000 23,519,000 <CURRENT-LIABILITIES> 1,685,000 231,000 <BONDS> 0 0 <PREFERRED-MANDATORY> 4,850,000 4,500,000 <PREFERRED> 0 0 <COMMON> 5,837,000 4,971,000 <OTHER-SE> 21,742,000 13,607,000 <TOTAL-LIABILITY-AND-EQUITY> 34,324,000 23,519,000 <SALES> 0 0 <TOTAL-REVENUES> 1,184,000 421,000 <CGS> 0 0 <TOTAL-COSTS> 3,031,000 1,661,000 <OTHER-EXPENSES> 1,978,000 851,000 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 205,000 298,000 <INCOME-PRETAX> (4,030,000) (2,389,000) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (4,030,000) (2,389,000) <DISCONTINUED> 0 0 <EXTRAORDINARY> (236,000) (214,000) <CHANGES> 0 0 <NET-INCOME> (4,266,000) (2,603,000) <EPS-PRIMARY> (.09) (.06) <EPS-DILUTED> (.09) (.06)