Separate the egg whites from the yolks. With an electric mixer, beat the egg whites until soft peaks form. In a separate bowl mix the egg yolks with sugar until foamy, then gradually add water and flour mixed with baking powder and cocoa. Finally, gently fold in the solid egg whites.

Pour into a greased and floured 9x13 baking pan and bake at 350 degrees Fahrenheit for 30 minutes, until a toothpick comes out clean.

Mix the egg yolks until they are foamy, then gradually add 1 ¼ cup milk and flour and mix until creamy. Bring the remainder milk to a boil over low heat (depending on your pans, you might want to do this step in a double-broiler). Pour the mixture into boiling milk stirring constantly until the custard-like mixture thickens, about 10 minutes. This process is easier if you 're mixing the cream with an electric mixer on low until it is cooked. Set aside to cool.

Mix butter or margarine with powdered sugar and Vanilla until creamy. Add butter mixture to cooled cream and combine well.

Mix the egg whites until stiff peaks form, gradually adding sugar and whisking constantly.

Transfer to the pot for steam cooking (double broiler) while stirring for 6-7 minutes until you notice that the sugar has dissolved and the meringue has quite thickened. Cool completely.

Top moist chocolate layer with creamy ribbon layer and meringue layer.

In a small sauce pan, melt butter until it starts bubbling. Remove from heat and add chocolate broken in pieces and cooking oil. Stir with a whisk until all chocolate is melted.

Pour chocolate glaze over meringue layer, let it cool. Cut cake with hot but dry knife and then refrigerate.

Cake is best kept refrigerated and consumed within few days which shouldn't be a problem at all!