On August 2, 2004, at 0916 central daylight time, a Mooney M20F, N9663M, registered to Aurora Borealis, Inc., and operated by the commercial pilot, landed in a field and struck a fence following a loss of engine power in the vicinity of Brewton, Alabama. The personal flight was operated under the provisions of Title 14 CFR Part 91 with a visual flight plan filed. Visual meteorological conditions prevailed. The commercial pilot and the passenger reported no injuries, and the airplane sustained substantial damage. The flight departed the Destin - Fort Walton Beach Airport, Destin, Florida, at 0845 on August 2, 2004. According to the pilot, the flight was in cruise flight at 4,500 feet mean seal level en route to Indianola, Mississippi, when the engine suddenly stopped producing power, and the propeller wind-milled. The pilot obtained nearest airport information from his GPS, notified air traffic controllers of the problem, and established a glide toward the Brewton Municipal Airport, Brewton, Alabama, which was 10 miles away. The pilot's attempts to restore engine power were unsuccessful. As the airplane descended, the pilot realized it would not make the distance to the airport, and he located a pasture for landing. The pilot stated he guided the airplane through the treetops on the north end of the pasture, and the airplane touched down in tall weeds. During landing roll over rough, uneven ground, the airplane rolled beneath power lines, crossed a dirt road, and collided with a barbed-wire fence near the treeline on the south end of the pasture. Examination of the airplane revealed damage to the wings, landing gear, and fuselage. Fuel was observed in the wing tanks. An engine start was performed using the cockpit engine controls, and the engine was observed to start and idle. Engine run up procedures were performed with no abnormalities observed with the engine, engine controls, and accessories. No evidence of mechanical malfunction was observed.