On August 10, 2003, at 0745 central daylight time, an amateur-built Nicoson Antares MA-33, N246AN, owned and operated by an airline transport pilot, was substantially damaged when it impacted a fence during a forced landing near Palmyra, Wisconsin. The pilot reported a loss of engine power. Visual meteorological conditions prevailed at the time of the accident. The 14 CFR Part 91 personal flight was being operated without a flight plan. The pilot reported no injuries. The flight departed East Troy Municipal Airport, East Troy, Wisconsin, at 0720 and had the intended destination of Palmyra Airport, Palmyra, Wisconsin. According to the pilot's written statement, the "takeoff and climb were normal. While in cruise at [approximately] 1000 [feet above ground level], power was applied to begin climb and the engine quit. During the forced landing I misjudged the rate of descent and landed short of the pasture and hit a fence." An examination of the engine by the Federal Aviation Administration confirmed continuity throughout the engine. The electrical ignition system was functional and both carburetor bowls contained fuel. The propeller was removed and the engine was prepared for a test run. The engine was started and ran at idle power without anomalies. A full throttle engine run was not performed, due to the lack of the propeller, however, the engine did respond to momentary throttle inputs. The pilot reported no other mechanical malfunctions or failures.