On April 10, 1998, at 0800 central daylight time, a WSK-PZL-Mielec PZL-M-18 agricultural airplane, N7046Y, nosed over during a forced landing following a loss of engine power near Carlisle, Arkansas. The airplane was operated by Almond Aviation, Carlisle, Arkansas, under Title 14 CFR Part 137. The airline transport rated pilot received minor injuries and the airplane sustained substantial damage. Visual meteorological conditions prevailed for the local aerial application flight and a flight plan was not filed. The flight departed the Carlisle Municipal Airport at 0740. During an interview, conducted by the FAA inspector, the pilot reported that this was the second aerial application flight for the day and he was spraying fungicide on the wheat fields. During the pull up of the airplane for the turn around maneuver, the engine began to cut out and using the wobble pump did not restore engine power. During the forced landing in a plowed field with soft ground, the airplane rolled about 400 feet before it flipped over to the inverted position. The FAA inspector and the operator examined the airplane at the site. Structural damage occurred to the cockpit, propeller blades, engine mounts, elevators, vertical stabilizer, and rudder. Flight control continuity was confirmed. There was no physical evidence of fuel leakage or spillage. The FAA inspector stated that the fuel tank reading "indications represented empty tanks." The operator stated that he determined the "aircraft ran out of fuel." On the Pilot/Operator Aircraft Accident Report (NTSB Form 6120.1/2) the pilot stated that the fuel gauges indicated 1/2 full at the time of departure. At the time when the fuel gauges were indicating slightly over 1/4 full, engine failure occurred. During the forced landing to a plowed open field, the airplane rolled about 50 yards before the tires began sinking into the soft ground. The airplane nosed over, landed upside down, and slid backwards about 20 feet before stopping.