Mix thoroughly 1/2 cup mushroom soup, packet of onion soup mix, beef, bread crumbs, and egg. In 2 quart oblong baking dish, firmly shape into 8x4 inch loaf. Bake at 350� for 1 1/4 hour. Spoon off fat and reserve 1/2 tbs for drippings. In 1 quart saucepan, combine remaining mushroom soup, water and reserved drippings. OVer low heat, heat through, stirring occasionally. Pour over meatloaf slices on plates or over entire meatloaf.