On March 8,1994, about 1310 eastern standard time, N8319Q, a Cessna TU206F ditched in the water adjacent to Crystal River, Florida, after experiencing a partial power loss while on a 14 CFR Part 91 business flight. The airplane is registered to and operated by Sunshine Community Inc. Visual meteorological conditions prevailed at the time and no flight plan was filed. The pilot reported no injuries and the airplane was substantially damaged. The flight had originated from Birmingham, Alabama, about 1 hour 45 minutes earlier. The pilot stated that while in cruise flight at 11,500 feet the engine lost oil pressure, began to run rough, and lose power. He attempted to glide to the shore but realized he could not make it. The airplane was ditched and the pilot was immediately recovered by a passing boat. The airplane was recovered and examination of the engine by an FAA inspector revealed the No.1 cylinder connecting rod had failed and penetrated the engine crankcase. The connecting rod was removed and examined, but due to damage to the failed surfaces the cause for the failure could not be determined.