UPDATE 1-Enel extends talks deadline on gas grid

* Enel, F2i extend talks to May 8

* Enel CEO very satisfied about Q1, positive on Q2

(Releads, adds background on gas grid sale plans)

ROME, April 29 (Reuters) - Italian utility Enel SpA's (ENEI.MI) has extended to May 8 the deadline for exclusive talks with investment fund F2i to sell its gas distribution network as part of an asset-disposal programme.

"The negotiations are going ahead nicely. We have decided to extend the exclusive talks to May 8," Enel Chief Executive Fulvio Conti said on Wednesday on the sidelines of the utility's shareholders meeting.

The deadline had been originally set for last Friday.

Asked about Enel's outlook for the year, Conti said he was very satisfied with first-quarter results, adding he had positive expectations for the second quarter, too. Enel reports first-quarter results on May 12.

On Monday, a source close to the deal said Enel should reach an agreement with F2i to sell 70 percent to 80 percent of its gas distribution network, valued at about 1.6 billion euros ($2.11 billion), over the next few days.

"There are no major differences and the two sides are basically working on the technical details of how to sell the stake while allowing Enel to keep management control," the source told Reuters on condition of anonymity.

The sale of the network is part of Enel's disposal programme to sell some 10 billion euros of assets by 2010 to help reduce its debt and maintain an "A" credit rating. ($1=.7579 euros) (Reporting by Alberto Sisto; editing by Mike Nesbit)