Slice bread into 1 1/2" slices. Pull out a piece of bread from the center of each slice about the size of a quarter. Brush olive oil on both sides of bread and season with salt and pepper. Heat sauté pan to medium heat. Place the sliced bread in the pan. Using the side of the pan, crack egg and drop in the hole in the bread. Cook until bread is golden and egg is firm on bottom, then flip and cook until egg is firm but yolk is still soft.