On July 30, 1997, approximately 1400 central daylight time, a Cessna A150K, N8332M, was substantially damaged following loss of engine power during initial climb following takeoff from a private grass strip near Elgin, Oklahoma. The private pilot, sole occupant in the airplane, was not injured. The airplane was operated by a private individual under Title 14 CFR Part 91. Visual meteorological conditions prevailed for the local personal flight which was originating at the time of the accident. No flight plan had been filed. According to the pilot, he had fueled the airplane from his own 150 gallon tank which had been idle for approximately 18 months. The pilot reported to the Investigator-In-Charge (IIC) that he preflighted the airplane in the hangar before takeoff. He stated that the takeoff appeared normal until approximately "75 feet agl when the engine quit." The pilot reported to the IIC that he "attempted to turn left back to a lane beside the runway, but he felt the airplane begin to stall and buffet." He lowered the airplane's nose to gain speed and landed in some tree tops. Postcrash examination of the airplane by an FAA inspector revealed that "the fuel in the airplane's fuel tank was dark and muddy looking." The pilot reported to the IIC that "he believes that the airplane's fuel was contaminated which caused his power failure."