DA20 PLT MISINTERPS FUEL ON BOARD INDICATIONS; LOSES ENG DUE TO FUEL EXHAUSTION; AND LANDS ON A ROAD.

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THE FLT WAS EXPECTED TO TAKE ABOUT 1 1/2 HRS TO COMPLETE. THE PREFLT INCLUDED 'STICKING' THE FUEL TANK USING A WOODEN DOWEL WHICH HAD DEMARCATIONS CORRESPONDING TO AMOUNTS OF FUEL IN THE TANK. THE STICK IS READ BY NOTING THE HT OF THE WET PORTION OF THE WOOD. IT WAS AT THIS POINT THAT I MADE THE CRITICAL MISTAKE OF MISREADING THE AMOUNT OF FUEL AS ROUGHLY AS FULL TANK; WHEREAS IT WAS ACTUALLY ROUGHLY A 1/4 TANK. ON A FULL TANK; THE ACFT WOULD BE GOOD FOR APPROX 3.5 HRS IN THE AIR; SO I MISTAKENLY THOUGHT I HAD MORE THAN ENOUGH FUEL FOR MY TRIP. I TOOK OFF AND PROCEEDED GPS DIRECT TO MY DEST; MAKING A CRUISE CLB UP TO 7500 FT. THE FUEL GAUGE IN THE COCKPIT WAS CHKED DURING THE GND OPS BEFORE TKOF AND I READ IT TO SAY ABOUT 1/2 - 3/4 TANK (AFTER THE FACT; THIS WAS AN ANOMALOUS READING; WHETHER BY THE FAULT OF MYSELF OR THE GAUGE). PRIOR EXPERIENCE WITH OTHER ACFT HAD LED ME TO GENERALLY NOT TRUST THE COCKPIT FUEL GAUGE; AS THEY OFTEN SEEMED TO HAVE LITTLE CORRESPONDENCE TO THE FUEL LEVEL MEASURED BY A TICK-TYPE METHOD. ABOUT 45 MINS INTO THE FLT; I DID NOTICE THE FUEL GAUGE READING UNDER 1/4 TANK OF FUEL; BUT DUE TO MY DISTRUST OF THE GAUGE AND THINKING I HAD PROPERLY 'STICKED' THE TANK; I CONTINUED ON TOWARDS MY DEST AS PLANNED. A LITTLE UNDER 1 HR AFTER DEP; THE ENG QUICKLY LOST PWR AND I REALIZED I WAS IN AN ENG-OUT SIT. NOT SEEING AN ARPT WITHIN THE GLIDE DISTANCE OF THE AIRPLANE; I PICKED OUT A SIZABLE ROAD TO LAND ON. ATTEMPTS TO RESTART THE ENG FAILED AND A MAYDAY CALL WAS GIVEN ON 121.5. THE LOCATION WHERE I TOUCHED DOWN WAS STRAIGHT; FLAT; AND HAD NO SIGNIFICANT OBSTRUCTIONS. THERE WAS SPARSE TFC ON THE ROAD; AND NONE THAT SEEMED IN DANGER OF COLLIDING WITH THE AIRPLANE. THE LNDG ITSELF WAS NORMAL FOR A PWR-OFF APCH AND THERE WAS NO DAMAGE TO THE ACFT; MYSELF; OR ANYTHING ELSE. AFTER COMING TO A STOP; I QUICKLY SHUT DOWN THE ACFT SYS; GOT OUT; AND MANUALLY ROLLED THE AIRPLANE TO THE SHOULDER; SO IT WAS NOT BLOCKING TFC FLOW. THE SIT WAS EVENTUALLY RESOLVED BY REFUELING THE PLANE AND TAKING OFF FROM THE HWY. WITH THE FUEL ISSUE BEING THE PRIMARY ISSUE BROUGHT UP IN THE FLT; THE LESSONS TAKEN FROM THIS EXPERIENCE ARE; OF COURSE; FIRST TO ALWAYS MAKE SURE YOU ARE FAMILIAR WITH READING THE FUEL STICK AND TAKE ENOUGH TIME IN DOING SO SUCH AS TO ENSURE THE PROC IS DONE PROPERLY. ONE COULD EXPAND ON THIS TO SAY THAT YOU SHOULD MAKE SURE YOU GIVE ALL FLT ACTIVITIES ENOUGH TIME TO BE DONE PROPERLY; AS RUSHING CAN CONTRIBUTE TO ERRORS IN GENERAL.