A man driving a Ferrari was killed, and his passenger badly injured when his vehicle fell into an irrigation ditch late Thursday night near Point Mugu and Camarillo, approximately half of a mile north of Highway 1.  The driver was reportedly driving at high speeds when he lost control of the Ferrari, causing it to flip several times before coming to a stop at a Ventura County farm field.  The vehicle then immediately burst into flames.  Local police officials were notified of the accident at approximately 9:53 p.m. on Thursday, January 4. The driver of the Ferrari, an  unidentified 52-year-old male was pronounced dead at the scene.  The passenger, also unidentified, was a 23-year-old male and was transported to a nearby hospital for injuries and burns to his left hand and stomach.  Officials identified the vehicle as a 2004 Ferrari 360.  The accident occurred around a nearby Ventura County Naval base and roughly 60 miles west of Los Angeles. Officials continue to investigate the accident.