On May 10, 1998, at 1830 central daylight time, a Cessna 152 airplane, N67326, was substantially damaged during a forced landing following the loss of engine power near Stillwater, Oklahoma. The private pilot and his passenger sustained minor injuries. The airplane was owned and operated by Crabtree Aviation Inc., of Guthrie, Oklahoma, under Title 14 CFR Part 91. Visual meteorological conditions prevailed for the personal flight for which a flight plan was not filed. The flight, which was destined for the Guthrie Municipal Airport, was originating at the time of the accident. The pilot reported to law enforcement personnel that responded to the accident, that he planned a normal departure from runway 17 at the Stillwater Municipal Airport. The 189 hour pilot reported that while over the departure end of the runway, at an estimated altitude of 60 to 80 feet above the ground, the engine started to run rough and then lost power. The pilot added that he lowered the nose of the airplane and made a turn to the left for an emergency landing in a field adjacent to the airport. The pilot reported that that the airplane touched down hard in a level attitude within the airport boundary, approximately 25 to 30 feet short of the airport perimeter fence. The airplane rolled on the ground for 2 or 3 seconds prior to going through a barbed wire fence, impacting a ditch with the nose wheel, and the nosed over. The airplane came to rest in the inverted position on a westerly heading on the north bound lane of the Airport Industrial Access Road, approximately a mile south of the departure end of runway 17. The pilot was issued his private pilot certificate on March 6, 1998. Law enforcement personnel requested a blood sample from the pilot for alcohol testing. The pilot voluntarily agreed to submit himself for the blood alcohol test. Toxicological tests were negative for alcohol. Examination of the wreckage by the FAA inspector confirmed that the forward section of the fuselage sustained structural damage. Examination of the fuel system revealed that water was present in the fuel gascolator, as well as in the right wing fuel cell. The fluid drained from the airplane was tested by an independent laboratory. The fluid was determined to be "drinking water." In the narrative portion of the enclosed NTSB Form 6120.1/2, the pilot stated that he was very familiar with the preflight inspection of the airplane, having accumulated nearly 60 hours in the type and model of airplane. He added that he performed a detailed preflight prior to his departure from Guthrie, and no contaminants were found on either wing tank. The pilot stated that he found a "small bubble" of water when he drained the gascolator during the preflight, but no evidence of additional water was detected after he drained additional fuel.