Pre-heat the oven to 245C/475F/gas mark 9. Break the egg and carefully separate the white from the yolk, making sure to keep the yolk whole. Put the knob of butter and a soupspoon of water into the frying pan and heat until foaming (the water helps to stop the butter from getting too hot, which is why the whites brown and toughen). Salt and pepper the pan so that the underside of the white gets seasoned, too. When the butter begins to foam, carefully slide in the white.
Put in the oven and cook for a minute and a half. The top should still be trembling. Now season on top - seasoning the white like this means you won't tarnish the yolk's wonderful golden colour by speckling it with pepper. Put the raw yolk in the centre of the white, and return to the oven for two minutes. Dot with a few drops of balsamic vinegar, and serve.
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