<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> AUG-31-1997 <PERIOD-END> FEB-28-1998 <CASH> 2,271 <SECURITIES> 0 <RECEIVABLES> 841 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,112 <PP&E> 47,617 <DEPRECIATION> 11,486 <TOTAL-ASSETS> 39,675 <CURRENT-LIABILITIES> 252 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 120 <COMMON> 75 <OTHER-SE> 39,303 <TOTAL-LIABILITY-AND-EQUITY> 39,675 <SALES> 0 <TOTAL-REVENUES> 3,639 <CGS> 0 <TOTAL-COSTS> 1,080 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 2,559 <INCOME-TAX> 0 <INCOME-CONTINUING> 2,559 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,559 <EPS-PRIMARY> .34 <EPS-DILUTED> .34