On September 2, 2008, about 1645 Pacific daylight time, a Lancair Propjet single-engine airplane, N750PJ, was substantially damaged during a forced landing following a loss of engine power after takeoff from the Camarillo Airport (CMA), Camarillo, California. The commercial pilot and his pilot-rated passenger sustained minor injuries. The airplane was registered to Sierra Pacific Holdings Inc. of Malibu, California, and operated by the pilot under the provisions of Title 14 Code of Federal Regulations (CFR) part 91. Visual meteorological conditions prevailed and no flight plan was filed for the test flight. The local flight was originating at the time of the accident. In a written statement, the pilot reported that shortly after takeoff from runway 26, during the transition from climb to cruise, he increased the angle of climb to avoid nearby traffic and the engine lost power about midfield at an altitude between 800 to 1,000 feet above ground level (agl). The pilot stated that the engine "just quit" and there was no gradual reduction in the engine sounds or indications of a power loss from the engine gauges. White smoke was observed emanating from the exhaust stacks. The pilot initiated a forced landing and performed a 180-degree turn towards runway 08. The pilot stated he landed within the eastern end of the runway 08 overrun area, and had to keep the airspeed up to avoid the runway overrun barriers. After clearing the barriers, the airplane touched down, and the pilot had to apply maximum braking effort in an attempt to stop the airplane. During the landing roll, the airplane exited the runway overrun area, struck a dirt pile, and nosed over. Examination of the airplane by a Federal Aviation Administration inspector revealed that the airplane came to rest inverted about 100 feet beyond the overrun area. The outboard three feet of the left wing was mostly separated, and the rudder was partially separated from the vertical stabilizer. Fuel was observed leaking from the airplane at the accident site. The airframe and Diemech Walter 601D turbine engine were examined by the pilot under the supervision of an NTSB investigator. The examination revealed that the condition lever moved freely by hand from stop to stop. All fuel lines appeared to be intact and secure. The intake screen was removed and the first stage axial compressor was observed using a lighted borescope. No damage or foreign debris were observed on the compressor blades. The inner combustion chamber, compressor nozzles, and compressor turbine blades were examined using a lighted borescope. No damage or debris was observed. The start nozzle contained small traces of a liquid that was consistent with jet fuel. The exhaust was removed and the power turbine was visually examined using a lighted borescope. No damage was noted to the turbine blades. The turbine wheel would not rotate freely by hand due to impact related damage to the engine case. Dirt was observed within the turbine section. The forward and aft chip detectors were removed and examined. Both chip detectors were free of metal particles. The oil filter was removed and exhibited no metallic particles. All four fuel control unit bleed drains were examined. A clear tube was attached to each bleed drain and the fuel system was manually activated and repeated for each drain. A significant amount of air bubbles were observed within the fuel on all four drains when the fuel system was activated The dirt and sand debris found internally within the engine was removed. The engine was engaged and mechanical continuity was established throughout. Due to damage sustained to the propeller blades, a full engine start and run up were not performed. The fuel filter was removed and examined. A small amount of debris and liquid consistent with jet A fuel were found within the filter. Liquid was drained from the left wing and was consistent with jet A fuel. The belly fuel tank was drained. A red liquid consistent with jet A fuel and hydraulic fluid mix was observed. The pilot stated that the undercarriage of the airplane had been heavily damaged during the accident and had also been upside down for an extended period of time. He believed that those conditions had allowed the hydraulic fluid to drain into the belly tank where the fuel sump for the belly drain was located.