Step 1

Caramelize the sugar until it turns a dark golden brown. This means the sugar alone goes into the pan. Keep a very close eye so as not to burn it around the edges as i almost did. Don't hurry it and don't worry...it will slowly melt and turn into a dark golden liquid caramel.

Step 2

SLOWLY and CAREFULLY pour the water into the caramel. This will spatter and boil and seize up for the first minute or so...not to worry, it will return to a this liquid syrup. Remove from heat. add the butter and set aside to cool.

Step 3

Preheat the oven to 350F USING BOTTOM ELEMENT ONLY and grease a 9 inch round cake pan.

Step 4

Mix the egg and condensed milk in a bowl.

Step 5

Sift the flour and baking soda together and add to the egg/milk mixture...mix well.

Step 6

Pour the caramel butter sauce into the batter and mix well.

Step 7

Pour batter into prepared pan and let sit for 5 minutes for the bubbles to begin developing.

Step 8

Bake at 350F with bottom element only. No convection for 1 hour or until a skewer inserted comes out clean. When the cake is cool, turn it out onto a plate.

Step 9

Serve sliced on it's own it has a nice caramelized sugar flavor. Fresh whipped cream and or ice cream would be a nice add.