In a large mixing bowl, combine the lukewarm water with sugar and yeast, and stir to dissolve (there may be small clumps that don't blend in very well - this is okay). Allow this mixture to rest about 10 minutes, or until slightly risen and bubbly.

Add the oil, honey, molasses, salt, and beaten egg; stir to combine. Stir in the flour, and knead on a lightly floured work surface until smooth and elastic, about 3-5 minutes. Place the dough back into the bowl, cover with plastic, and allow to rise 1 hour or until doubled. 

Note: To test if the dough is risen enough, stick your finger into the dough - if an indentation remains without shrinking back where your finger was, it is ready to use.

While the dough is rising, combine the water and honey for the poaching syrup in a large pot and bring to a boil. Reduce heat to a simmer, just to keep it hot, until ready to use.

When the dough has risen enough, punch it down to remove any air bubbles. Turn it out onto a clean work surface. Divide the dough into 12 evenly divided portions (each should weigh about 100 grams).

Roll each portion of dough into a long rope, about 12 inches long. Bring the ends together with about a 1-inch overlap, pinching the ends together firmly to seal. Roll over the pinched portion of dough a couple of times, with your hand in the hole of the bagel, to make the seam a little smoother and more uniform. Set the finished bagel onto a parchment lined baking sheet, and repeat with the other bagels until all 12 have been shaped. The holes in the centre of the just-shaped bagels should be large enough to fit a golf ball inside snugly.

Note: If the dough is sticky, you can use a little flour on the work surface to prevent sticking. Also, I like to make my bagel holes a little smaller, so I usually roll them with 3 fingers in the hole - Using your whole hand makes the hole a little larger, which is actually more typical of a Montreal style bagel.

Bring the poaching syrup back to a boil, preheat the oven to 425 degrees Fahrenheit, and allow the bagels to rest 10-20 minutes, or until about 1-1/2 times their original size. They won't look very much larger - just slightly more puffy. 

Drop 3-5 bagels into the boiling poaching syrup (depending on the size of your pot - you want them to have room to expand without overlapping each other), and allow them to poach 1 minute on each side, but not longer. If anything, take the bagels out slightly before they reach the 1 minute mark per side. Lift the bagels out of the water using a slotted spoon or fork, allowing them to drip slightly before setting them onto a parchment-lined baking sheet. The bagels should double in size during this step.

Allow the bagels to cool slightly, and then re-attach the ends of any bagels that broke open during the poaching process. Using your hands, dip the bagels upside down into a bowl of sesame seeds to cover the tops. Place the seeded bagels back onto the parchment lined baking sheet. (The dough should be a sticky, spongy texture at this step.)

Bake at 425 degrees Fahrenheit for 12-15 minutes or until golden brown. Cool on wire racks.