<TABLE> <S> <C>


<ARTICLE>                                                                      6
<LEGEND>
     THIS SCHEDULE  CONTAINS  SUMMARY  FINANCIAL  INFORMATION  EXTRACTED FROM ML
OKLAHOMA VENTURE PARTNERS,  LIMITED PARTNERSHIP'S ANNUAL REPORT ON FORM 10-K FOR
THE PERIOD ENDED DECEMBER 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS
</LEGEND>
       
<S>                                                                          <C>
<PERIOD-TYPE>                                                             12-MOS
<FISCAL-YEAR-END>                                                    DEC-31-1998
<PERIOD-START>                                                       JAN-01-1998
<PERIOD-END>                                                         DEC-31-1998
<INVESTMENTS-AT-COST>                                                  2,625,384
<INVESTMENTS-AT-VALUE>                                                 6,367,148
<RECEIVABLES>                                                             28,778
<ASSETS-OTHER>                                                                 0
<OTHER-ITEMS-ASSETS>                                                     731,956
<TOTAL-ASSETS>                                                         7,127,882
<PAYABLE-FOR-SECURITIES>                                                       0
<SENIOR-LONG-TERM-DEBT>                                                        0
<OTHER-ITEMS-LIABILITIES>                                                214,494
<TOTAL-LIABILITIES>                                                      214,494
<SENIOR-EQUITY>                                                                0
<PAID-IN-CAPITAL-COMMON>                                                       0
<SHARES-COMMON-STOCK>                                                     10,248
<SHARES-COMMON-PRIOR>                                                     10,248
<ACCUMULATED-NII-CURRENT>                                                      0
<OVERDISTRIBUTION-NII>                                                         0
<ACCUMULATED-NET-GAINS>                                                        0
<OVERDISTRIBUTION-GAINS>                                                       0
<ACCUM-APPREC-OR-DEPREC>                                               3,741,764
<NET-ASSETS>                                                           6,913,388
<DIVIDEND-INCOME>                                                              0
<INTEREST-INCOME>                                                         61,531
<OTHER-INCOME>                                                                 0
<EXPENSES-NET>                                                           348,910
<NET-INVESTMENT-INCOME>                                                (287,379)
<REALIZED-GAINS-CURRENT>                                               (236,228)
<APPREC-INCREASE-CURRENT>                                                717,196
<NET-CHANGE-FROM-OPS>                                                    193,589
<EQUALIZATION>                                                                 0
<DISTRIBUTIONS-OF-INCOME>                                                      0
<DISTRIBUTIONS-OF-GAINS>                                                       0
<DISTRIBUTIONS-OTHER>                                                    880,222
<NUMBER-OF-SHARES-SOLD>                                                        0
<NUMBER-OF-SHARES-REDEEMED>                                                    0
<SHARES-REINVESTED>                                                            0
<NET-CHANGE-IN-ASSETS>                                                 (686,633)
<ACCUMULATED-NII-PRIOR>                                                        0
<ACCUMULATED-GAINS-PRIOR>                                                      0
<OVERDISTRIB-NII-PRIOR>                                                        0
<OVERDIST-NET-GAINS-PRIOR>                                                     0
<GROSS-ADVISORY-FEES>                                                          0
<INTEREST-EXPENSE>                                                             0
<GROSS-EXPENSE>                                                                0
<AVERAGE-NET-ASSETS>                                                   7,256,705
<PER-SHARE-NAV-BEGIN>                                                        734
<PER-SHARE-NII>                                                             (28)
<PER-SHARE-GAIN-APPREC>                                                       47
<PER-SHARE-DIVIDEND>                                                           0
<PER-SHARE-DISTRIBUTIONS>                                                     85
<RETURNS-OF-CAPITAL>                                                           0
<PER-SHARE-NAV-END>                                                          668
<EXPENSE-RATIO>                                                                0
<AVG-DEBT-OUTSTANDING>                                                         0
<AVG-DEBT-PER-SHARE>                                                           0
        


</TABLE>