<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> JUN-30-1997 <CASH> 2,208,496 <SECURITIES> 0 <RECEIVABLES> 314,375 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,522,871 <PP&E> 15,780,526 <DEPRECIATION> 209,480 <TOTAL-ASSETS> 18,408,872 <CURRENT-LIABILITIES> 181,706 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 1,584,031 <TOTAL-LIABILITY-AND-EQUITY> 18,408,872 <SALES> 1,428,959 <TOTAL-REVENUES> 1,478,643 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,648,547 <LOSS-PROVISION> 6,475,500 <INTEREST-EXPENSE> 896,011 <INCOME-PRETAX> (6,645,404) <INCOME-TAX> 0 <INCOME-CONTINUING> (6,645,404) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (6,645,404) <EPS-PRIMARY> 0 <EPS-DILUTED> 0