In a deep skillet, heat the olive oil over medium high heat. Add the sliced onion and sauté for 2 to 3 minutes until it begins to soften. Add the diced bell pepper and sauté for another 2 to 3 minutes until the pepper begins to soften.
When the onions and peppers are tender, add the chili flakes and minced garlic and sauté for 1 minute. Add the cherry tomatoes along with the water and bring to a simmer. Cover and let the tomatoes simmer until they begin to burst. Use a potato masher or wooden spoon to gently crush the tomatoes to create a sauce.
Continue to cook the tomatoes until the sauce begins to thicken. Add the fresh oregano and basil along with the kosher salt and pepper. Crumble the feta over the tomato sauce.
Use a wooden spoon to create little wells for the eggs. Crack the eggs and drop into the wells. Turn the heat down to low and cook for 5 to 7 minutes until the whites have set but the yolks are still soft. If desired, cover with a lid to speed up the cooking process.
To serve, toast slices of crusty bread. When the egg whites are set, remove from the heat and garnish with chopped fresh oregano and basil. Arrange the toast on each plate and top with the tomato feta eggs. Enjoy!