Butter both sides of each slice of bread. Cut a hole about 3 inches (7.5 cm) in diameter in the centre of each slice with a cookie cutter or small glass. Preheat a large non stick skillet to medium heat, place bread slices in skillet and cook until lightly browned, then turn. Break one egg into each hole being careful not to break the yolk.
Cook until the undersides of the bread are golden and egg whites are firm. For sunny-side up, cook one side only. For over easy, flip and cook until done as desired. Serve immediately.