During the takeoff on runway 26 and approximately two seconds after the V1 call, the crew heard a loud bang and felt an airframe shudder and considerable vibration, later attributed to an engine stall. The captain called for and initiated a rejected takeoff. The aircraft could not be stopped on the runway, and the nose-wheel gear collapsed as the aircraft rolled through the soft ground beyond the end of the runway. The aircraft came to rest in a nose-down attitude approximately 400 feet off the declared end of the runway. Six passengers were slightly injured during the emergency evacuation of the aircraft. PROBABLE CAUSE: “The Board determined that engine number 1 lost power at a critical point in the take-off and that the rejected take-off was initiated at a point and speed where there was insufficient runway remaining to stop the aircraft on the runway. Contributing to this occurrence were the misidentification of the cause of the loud bang and the lack of knowledge regarding the characteristics of engine compressor stalls. Contributing to the engine power loss was a delay between the collection and analysis of the engine monitoring data.”