<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> NOV-30-1996 <PERIOD-START> DEC-01-1996 <PERIOD-END> FEB-28-1997 <CASH> 11,659 <SECURITIES> 0 <RECEIVABLES> 3,053 <ALLOWANCES> 0 <INVENTORY> 78 <CURRENT-ASSETS> 18,363 <PP&E> 33,367 <DEPRECIATION> 4,688 <TOTAL-ASSETS> 53,271 <CURRENT-LIABILITIES> 10,205 <BONDS> 22,932 <PREFERRED-MANDATORY> 2,500 <PREFERRED> 0 <COMMON> 15,544 <OTHER-SE> 1,162 <TOTAL-LIABILITY-AND-EQUITY> 53,271 <SALES> 0 <TOTAL-REVENUES> 403 <CGS> 0 <TOTAL-COSTS> (223) <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (241) <INCOME-PRETAX> (1,211) <INCOME-TAX> 447 <INCOME-CONTINUING> (764) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (764) <EPS-PRIMARY> (.22) <EPS-DILUTED> (.22)