<ARTICLE> 5 <MULTIPLIER> 1 <CURRENCY> U.S. Dollars <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <EXCHANGE-RATE> 1 <CASH> 1,817,840 <SECURITIES> 0 <RECEIVABLES> 122,620 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,974,020 <PP&E> 32,368,750 <DEPRECIATION> 15,269,110 <TOTAL-ASSETS> 19,276,300 <CURRENT-LIABILITIES> 4,814,260 <BONDS> 866,670 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,610 <OTHER-SE> 13,593,760 <TOTAL-LIABILITY-AND-EQUITY> 19,276,300 <SALES> 0 <TOTAL-REVENUES> 821,920 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 385,350 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 8,090 <INCOME-PRETAX> 428,480 <INCOME-TAX> 170,440 <INCOME-CONTINUING> 258,040 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 258,040 <EPS-PRIMARY> 0.16 <EPS-DILUTED> 0.16