From the R&A:

27-1. Ball Lost or Out of Bounds
If a ball is lost or is out of bounds, the player must play a ball,
under penalty of one stroke, as nearly as possible at the spot
from which the original ball was last played (see Rule 20-5).

Exceptions:
1. If there is reasonable evidence that the original ball is lost in
a water hazard, the player must proceed in accordance with
Rule 26-1.
2. If there is reasonable evidence that the original ball is lost in
an obstruction (Rule 24-3) or an abnormal ground condition
(Rule 25-1c) the player may proceed under the applicable Rule.

PENALTY FOR BREACH OF RULE 27-1:
Match play – Loss of hole; Stroke play – Two strokes.


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So you take 2 strokes for breaching 27-1.

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True Length Technology Fitter - www.truelengthtechnology.com
It's live! - www.ShipShapeClubs.com
PCS Class 'A' Clubfitter

A new highlight: Golfing the home course on Christmas Day.

I say it too often: If it's golf club shaped, you can play with it.

For the record, I'm a club doctor, not a swing doctor.