We report on Hubble Space Telescope (HST) observations of the host galaxy of
GRB 971214, about four months after the burst. The redshift of the proposed
host galaxy at z=3.418, combined with optical and radio observations of the
burst afterglow, implies the extremely large isotropic energy release from the
burst in gamma-rays of approximately 3x10^53 ergs, some two orders of magnitude
higher than the previously commonly assumed numbers. The positional offset
between the optical transient observed at the Keck telescope and the centroid
of the proposed host galaxy in the HST image is 0.14 -+0.07 arcsec. We find no
evidence in our deep HST image for a chance foreground galaxy superposed along
the line of sight to the proposed host at z=3.418. The morphology and
photometric properties of this galaxy, such as the total flux, morphology,
radial surface profile and scale length, are typical as compared to other,
spectroscopically confirmed z>3 galaxies.Comment: LaTex, 10 pages, 3 figures, accepted to ApJ