On July 9, 2005, at 1030 central daylight time, a North American P-51D, N10607, collided with the terrain following a loss of engine power on takeoff from runway 18 (3,773 feet by 60 feet, concrete) at the Peterson Municipal Airport (K57), Tarkio, Missouri. The airline transport rated pilot was seriously injured. The airplane was substantially damaged. The 14 Code of Federal Regulations Part 91 personal flight was operating in visual meteorological conditions without a flight plan. The flight was originating at the time of the accident. The pilot reported that he experienced a total loss of engine power at an altitude of about 50 above the ground on takeoff. He stated he banked to the left to avoid a 30 foot dike off the end of the runway. He stated that when he banked the airplane, the left wing contacted the ground. The airplane then rocked to the right and the right wing contacted the ground prior to the airplane coming to rest. The pilot reported that following the accident the fuel pump and carburetor were tested and they functioned normally. He stated the engine timing was checked and it was set as it should have been. The pilot stated he rotated the engine using the starter and engine continuity was established. Inspection of the airplane and engine failed to reveal any mechanical failure/malfunction which would have resulted in the loss of engine power.