On August 27, 2003, about 0907 eastern daylight time, a Beech 23, N2322Q, operated by an individual and owned by E-Z Flying Club, as a Title 14 CFR Part 91 personal flight, lost engine power and impacted a tree during takeoff at the Charlotte County Airport, Punta Gorda, Florida. Visual meteorological conditions prevailed and no flight plan was filed. The private-rated pilot reported no injuries and the airplane incurred substantial damage. The flight was originating at the time. The pilot stated, he performed an engine run-up and had a normal takeoff. At about 200 to 300 feet above the ground, the engine lost power. The airplane clipped a tree during the forced landing. The FAA inspector who responded to the accident stated the pilot stated to him the engine failed at 200 to 300 feet above the ground and crashed landed in a field 1/2 mile off the departure end of runway 15, a published 4,743-foot-long runway. A witness, an FAA licensed airframe and powerplant mechanic, stated that he heard a "poorly running engine" and observed the accident airplane flying south about 20 to 30 feet above the runway. At that point, there was more then 1,000 feet of runway remaining. The airplane continued flying past the runway and off the airport barely holding altitude. He saw the airplane suddenly climbed another 10 to 20 feet before it descended out of his view.