On August 26, 2001, approximately 1035 central daylight time, a Cessna 150 airplane, N10088, was substantially damaged when it impacted terrain following a loss of control during initial takeoff climb from the Old "66" Airstrip, near Miami, Oklahoma. The private pilot sustained minor injuries and his passenger was not injured. The airplane was owned and operated by the pilot. Visual meteorological conditions prevailed and a flight plan was filed for the 14 Code of Federal Regulations Part 91 personal flight. The flight was originating at the time of the accident with Terrell, Texas, as their intended destination. In the enclosed Pilot/Operator Aircraft Accident Report (NTSB Form 6120.1/2), the pilot reported that the airplane stalled during the initial takeoff climb from the 2,600-feet long sod airstrip. The 69-year old pilot added that the accident could have been prevented by watching the airspeed and the climb rate of the airplane. The pilot reported having accumulated a total of 21,000 hours, with 2 hours in the Cessna 150 aircraft. The airplane came to rest in the inverted position. Examination of the airplane revealed structural damage to both wings and the fuselage.