<TABLE> <S> <C>
                                                                          
<ARTICLE> 5                                                                     
                                                                                
<LEGEND>                                                                        
This schedule contains summary financial information extracted from the Annual  
Report for the year ended July 31, 1997 and is qualified in its entirety by     
reference to such Annual Report.                                                
</LEGEND>                                                                       
<MULTIPLIER>                1                                                   
                                                                                
                                                                                
                                                                                
<S>                                        <C>                                  
<PERIOD-TYPE>                              12-MOS                               
<FISCAL-YEAR-END>                          JUL-31-1997                          
<PERIOD-START>                             AUG-01-1996                          
<PERIOD-END>                               JUL-31-1997                          
<CASH>                                         234,288                          
<SECURITIES>                                 2,721,127                          
<RECEIVABLES>                                  563,410                          
<ALLOWANCES>                                         0                          
<INVENTORY>                                          0                          
<CURRENT-ASSETS>                             4,736,741                          
<PP&E>                                      48,786,733                          
<DEPRECIATION>                              20,660,899                          
<TOTAL-ASSETS>                              40,405,980                          
<CURRENT-LIABILITIES>                        2,767,243                          
<BONDS>                                              0                          
<PREFERRED-MANDATORY>                                0                          
<PREFERRED>                                          0                          
<COMMON>                                     2,178,297                          
<OTHER-SE>                                  25,851,739                          
<TOTAL-LIABILITY-AND-EQUITY>                40,405,980                          
<SALES>                                              0                          
<TOTAL-REVENUES>                            10,080,382                          
<CGS>                                                0                          
<TOTAL-COSTS>                                        0                          
<OTHER-EXPENSES>                             8,360,861                          
<LOSS-PROVISION>                                     0                          
<INTEREST-EXPENSE>                             696,472                          
<INCOME-PRETAX>                              1,290,925                         
<INCOME-TAX>                                   480,000                         
<INCOME-CONTINUING>                            810,925                         
<DISCONTINUED>                                       0                          
<EXTRAORDINARY>                                      0                          
<CHANGES>                                            0                          
<NET-INCOME>                                   810,925                         
<EPS-PRIMARY>                                      .38                         
<EPS-DILUTED>                                      .00                          
                                                                                

</TABLE>