WHILE ENROUTE TO VAN NUYS ARPT AT ABOUT 9500 FT, THE PLT REPORTED TO EDWARDS AFB APCH CONTROL THAT HE WAS EXPERIENCING A ROUGH RUNNING ENG. THE PLT REQUESTED AND RECEIVED A RADAR VECTOR TO WM J. FOX ARPT, LANCASTER, CA. SHORTLY THEREAFTER THE ENG SUSTAINED A TOTAL PWR LOSS. THE PLT EXECUTED AN EMERGENCY NEAR ROSAMOND ARPT. THE ENG EXAMINATION DISCLOSED A 'DRILL BIT' REMNANT LODGED IN HE OIL PUMP CAUSING IT TO SIEZE. THE ENG SUSTAINED EXTREME HIGH TEMP DISTRESS FOLLOWED BY SEPARATION OF THE CON ROD. A 100-HOUR INSPECTION WAS PERFORMED ON THE ACFT WITHIN 80 HOURS PRECEDING THE ACCIDENT. THE MECHANIC REPORTED THAT HE COULD NOT REMEMBER IF HE HAD INSPECTED THE SCAVENGE PUMP OIL SCREEN DURING THE INSPECTION. METALURGICAL EXAMINATION DISCLOSED THE DRILL BIT HAD PENETRATED THE OIL SCREEN AND ENTERED INTO THE OIL PUMP. THE ORIGIN OF THE DRILL BIT COULD NOT BE DETERMINED. THE ENG HAD BEEN DISASSEMBLED 180 HOURS PRIOR TO THE ACCIDENT BY TELEDYNE CONTINENTAL MOTORS