<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> DEC-31-1997 <CASH> 3,052,039 <SECURITIES> 0 <RECEIVABLES> 112,987 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,165,026 <PP&E> 19,467,903 <DEPRECIATION> 3,916,724 <TOTAL-ASSETS> 18,716,205 <CURRENT-LIABILITIES> 185,149 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 990,575 <TOTAL-LIABILITY-AND-EQUITY> 18,716,205 <SALES> 2,573,611 <TOTAL-REVENUES> 2,686,095 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,600,839 <LOSS-PROVISION> 6,475,500 <INTEREST-EXPENSE> 1,848,616 <INCOME-PRETAX> (7,238,860) <INCOME-TAX> 0 <INCOME-CONTINUING> (7,238,860) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (7,238,860) <EPS-PRIMARY> 0 <EPS-DILUTED> 0