Basically, cover a piece of bread in butter or margarine. Using a knife, cut out a circle in the center, leaving about an inch of bread around the edge. Place the piece of bread into a skillet, and make sure to put the circle you cut out in, as well. Break one egg into the center of the piece of bread. Cook until the egg is pretty solid, making sure not to burn the bread. Break the yolk and turn over the piece of bread to cook the other side. (Make sure to flip over the circle too.) Cook for a few minutes, and voila!
The circle you cut out is actually the tastiest part of the whole thing. Very buttery and toasted just right. You can add salt or pepper to taste, if you'd like, but I usually don't
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