On April 24, 1995, approximately 1530 central daylight time, a Beech D35, N2920B, was substantially damaged during a forced landing near McGehee, Arkansas. The private pilot received minor injuries. Visual meteorological conditions prevailed for the personal flight. According to a Federal Aviation Administration (FAA) inspector, the pilot took off from McGehee Municipal Airport (7M1), McGehee, Arkansas, en route to Little Rock, Arkansas. Ten minutes after takeoff the engine's oil pressure began to fluctuate. The pilot returned to McGehee Airport, and was observed attempting to land at the uncontrolled airport on runway 18 as another airplane was taking off on runway 36. The pilot reported that he intentionally shut down the airplane's engine when the runway could be made. The pilot made a right turn to avoid the airplane on takeoff and attempted to returned to runway 18. Subsequently, the airplane struck the ground 50 feet prior to the runway, and came to rest on the runway, inverted on its left side with the right wing over the entrance door. The engine had separated from the airframe. No radio call declaring an emergency was heard. A witness who was the pilot of the aircraft which was taking off of from runway 36 reported the following information. He observed N2920B approaching runway 18 at a low altitude banking "back and forth", about "30 degrees either direction." He thought that perhaps the aircraft was doing "S turns" for spacing. He then observed the aircraft "fly down the runway, but it was obvious that they were too high and fast to land." About half way down the length of the runway, the aircraft "initiated a steep right bank" and proceeded westbound. The aircraft was then observed making a "knife edge bank" to the east at what looked like an "extremely low" altitude. The aircraft was then observed impacting the ground approximately 30 feet west of the runway in an "extreme bank" and "level" attitude. Examination of the airplane by the FAA inspector revealed the oil sump drain was open, approximately one quart of oil in the engine, and there was oil on the belly of the airplane. The engine's oil had been changed recently by the pilot. Repeated attempts to obtain a completed Pilot/Operator Report, NTSB Form 6120.1/2 were unsuccessful.