Cool Stars 14 - Submitted Abstract # 214 This version created on 05 October 2006 Results from the Deep Rho Ophiuchi XMM-Newton Observation (DROXO). Salvatore Sciortino, INAF-Osservatorio Astronomico di Palermo Ignazio Pillitteri, INAF-Osservatorio Astronomico di Palermo Nicolas Grosso, Laboratoire d'Astrophysique de Grenoble, Universite' Joseph-Fourier Francesco Damiani, INAF-Osservatorio Astronomico di Palermo Ettore Flaccomio, INAF-Osservatorio Astronomico di Palermo Giuseppina Micela, INAF-Osservatorio Astronomico di Palermo Beate Stelzer, INAF-Osservatorio Astronomico di Palermo Fabio Favata, Astr. Division, Research and Science Support Department of ESA Giovanna Giardino, Astr. Division, Research and Science Support Department of ESA Thierry Montmerle, Laboratoire d'Astrophysique de Grenoble, Universite' Joseph-Fourier Francesco Palla, INAF--Osservatorio Astrofisico di Arcetri Leonardo Testi, INAF--Osservatorio Astrofisico di Arcetri As part of the XMM-Newton AO4 program it has been approved a Large/Joint-ESO Project, dubbed as DROXO (Deep Rho Oph XMM-Newton Observation) that has resulted in a 500 ksec long, almost continuous, observations. The project aims to characterize the spectro-variability properties of YSOs in the nearby and very young rho Oph star forming region. We will present an overview of the XMM-Newton EPIC and OM data, and selected initial results based on the analysis of a few interesting YSOs, such as SR12AB, Elias 29, etc. ----------------------------------