On July 18, 1993, about 2031 eastern daylight time, a Cessna 172N, N99BW, registered to Fred Mullins, III, was ditched in the Atlantic Ocean about 7 nautical miles east-southeast of the Fort Lauderdale-Hollywood International Airport, Fort Lauderdale, Florida, while on a 14 CFR Part 91 personal flight. Visual meteorological conditions prevailed at the time and a VFR flight plan was filed. The airplane was not recovered and is presumed to be destroyed. The commercial-rated pilot, pilot-rated passenger, and one rear seat passenger sustained minor injuries. One passenger was not injured. The flight originated about 2000 from Bimini, Bahamas. According to the owner of the airplane, long range fuel tanks were installed which provides for 50 gallons of usable fuel. He also stated that the airplane was flown for 1.4 hours after the fuel tanks were filled. Five gallons of fuel were added and the airplane was then flown for 1.2 hours before the accident pilot rented the airplane on January 17, 1993. The pilot stated that he preflighted the airplane which was flown for two flights which lasted according to the Hobbs meter, 3.7 hours. Twenty-four gallons of fuel were added and the airplane was then flown on one flight which lasted .7 hour. The following day, the airplane was flown for 1.9 hours and after landing, the left and right fuel quantity gauges indicated 8-10 and 4+ gallons respectively. The accident flight departed and about 15 to 20 minutes into the flight, the engine lost power. At that time the right fuel gauge indicated 8 gallons and the left fuel gauge indicated nearly empty. Emergency procedures were executed and while descending at best glide airspeed, the engine power was restored. A climb was initiated and about 1 minute later, the engine lost power again. A descent at best glide airspeed was initiated and the airplane was ditched.