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WHERE column IS NULL and index usage...

I have a customer with a million row 125mb table. A query they are running returns very slowly:
explain plan for SELECT * FROM BIGTABLE WHERE col1 IS NULL;
SELECT * FROM TABLE(dbms_xplan.display);

--------------------------------------------------------------------------      
| Id  | Operation            |  Name             | Rows  | Bytes | Cost  |      
--------------------------------------------------------------------------      
|   0 | SELECT STATEMENT     |                   |     1 |    96 |  1436 |      
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