Pre-heat the oven to 200 degrees. Place the slices of bread in a large mixing bowl and coat with the olive oil and caraway seed. Toss well, then arrange on a baking tray. Bake for 8-10 minutes until golden brown.
Sit 4 coddling dishes in a large saucepan and pour in enough cold water so that it comes up to just below the level of the coddling dishes. Bring the water to a simmer, then remove the coddling dishes. Quickly butter the coddling dishes and crack the eggs carefully into the dishes and season. Replace the lids on the coddling dishes and place back in the saucepan.
Cook for 6-8 minutes until just set. Remove the bread from the oven, then remove the coddling dishes (they will be hot so take care). Arrange the eggs on serving plates with slices of the bread to serve.