In a 4-quart Dutch oven combine 1/2 cup of the sugar and oil. Stir constantly over medium heat until sugar begins to melt (sugar will look clumpy and shaggy). Continue cooking for 5 to 7 minutes or until sugar fully melts into a smooth mass and turns a caramel color (caramel and oil will not mix together). Remove from heat and cool for at least 30 minutes (caramel mixture will harden in the pan).
Preheat oven to 350 degrees F. Grease a 9- to 10-inch round baking pan or springform pan; set aside. Add water to the Dutch oven and bring to boiling. Add remaining sugar, salt, and pepper, if desired. Return to boiling, stirring to dissolve the hardened mixture and the sugar. Add noodles; cook about 10 minutes or until water has nearly evaporated, stirring occasionally. Remove from heat and cool for 20 minutes. Add eggs and mix well; pour into prepared pan.
Bake for 50 to 60 minutes or until browned and crispy on top. Top with parsley.