The pilot performed a daily inspection of the aircraft with the intention of flying to Dysart. During this time he filled the aircraft fuel tanks with Avgas and carried out a fuel contamination check. A small amount of water was drained from the left fuel system. During the engine run-up checks, all pressures and temperatures were within normal operating tolerances. The pilot reported that following a normal take-off, at about 100 ft, and after landing gear retraction, the right engine lost power. He transmitted a MAYDAY broadcast which was received by Brisbane Flight Service. While carrying out the engine failure vital actions, he thought that the engine may have regained power. However, when the engine did not respond to throttle movements, he completed the vital actions, which included feathering the right propeller. The pilot observed that the indicated airspeed was below the best single-engine climb speed and that the aircraft was not climbing. He was aware of rising terrain ahead and decided to land the aircraft in a flat field beyond the aerodrome boundary. He selected the landing gear down but the aircraft touched down heavily before the gear had extended. The left tip tank ruptured and caught fire on impact. The aircraft slid for 120 m. and when it stopped, the pilot and passenger exited the aircraft and the pilot extinguished the fire with the fire extinguisher from the aircraft. A witness reported that the aircraft took off normally but then suddenly diverged left of the extended runway centreline. A short time later, he lost site of the aircraft behind buildings. The investigation did not determine why the aircraft diverged left after the right engine failed. Examination of the right propeller indicated that it had been feathered prior to the impact, while damage to the left propeller was indicative of a low-power setting at impact. Extensive examination of the engines and their systems failed to identify any deficiencies which might have contributed to the reported engine failure. The examination included operating the engines at various power settings.