<TABLE> <S> <C>

<ARTICLE> 5

<S>                             <C>                     <C>                     <C>
<PERIOD-TYPE>                   YEAR                   9-MOS                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997             DEC-31-1997
<PERIOD-START>                             JAN-01-1997             JAN-01-1997             OCT-01-1997
<PERIOD-END>                               DEC-31-1997             SEP-30-1997             DEC-31-1997
<CASH>                                       3,528,129                 753,937               3,528,129
<SECURITIES>                                         0                       0                       0
<RECEIVABLES>                               22,475,326              19,393,663              22,475,326
<ALLOWANCES>                                         0                       0                       0
<INVENTORY>                                          0                       0                       0
<CURRENT-ASSETS>                            25,299,505              19,422,377              25,299,505
<PP&E>                                     153,416,796             110,938,718             153,416,796
<DEPRECIATION>                               1,925,245               1,564,772               1,925,245
<TOTAL-ASSETS>                             181,701,968             134,424,189             181,701,968
<CURRENT-LIABILITIES>                        4,149,642               1,994,958               4,149,642
<BONDS>                                     42,746,189              78,439,040              42,746,189
<PREFERRED-MANDATORY>                                0                       0                       0
<PREFERRED>                                          0              48,828,191                       0
<COMMON>                                        95,081                   9,803                  95,081
<OTHER-SE>                                 134,711,056               5,152,197             134,711,056
<TOTAL-LIABILITY-AND-EQUITY>               181,701,968             134,424,189             181,701,968
<SALES>                                              0                       0                       0
<TOTAL-REVENUES>                            13,543,718               9,278,379               4,265,339
<CGS>                                                0                       0                       0
<TOTAL-COSTS>                                3,142,859               2,423,129                 719,730
<OTHER-EXPENSES>                               537,297                 464,769                  72,528
<LOSS-PROVISION>                                     0                       0                       0
<INTEREST-EXPENSE>                           5,894,638               4,419,226               1,475,412
<INCOME-PRETAX>                              3,968,924               1,971,255               1,997,669
<INCOME-TAX>                                   167,000                 167,000                       0
<INCOME-CONTINUING>                          3,801,924               1,804,255               1,997,669
<DISCONTINUED>                                       0                       0                       0
<EXTRAORDINARY>                                      0                       0                       0
<CHANGES>                                            0                       0                       0
<NET-INCOME>                                 3,801,924               1,804,255               1,997,669
<EPS-PRIMARY>                                     1.92                       0                    0.20
<EPS-DILUTED>                                     1.92                       0                    0.20


</TABLE>