On September 27, 1993, at 1400 central daylight time, a Cessna 177B, N35163, registered to Red Baron Flyers, Inc. of Caledonia, Minnesota, and operated by a private rated pilot, experienced a loss of engine power and conducted a forced landing on a gravel road two and one-half miles east of Fayette, Iowa. On roll out the left wing impacted a road sign and exited the road into a ditch. The airplane sustained substantial damage. The pilot and three passengers reported no injuries. The personal 14 CFR Part 91 flight was operating in visual meteorological conditions. No flight plan was on file. The flight departed Owasso, Oklahoma, at 0900, with the intended destination of Caledonia, Minnesota. The pilot in his written statement gave no indication of reason for loss of engine power, other than to describe a "pop" and loss of power. Post accident examination of the fuel tanks revealed only unusable fuel remaining.