Preheat the oven to 325F.
Fill a kettle with water and set on the stove to boil.
Lightly brush the sides and bottom of a 6-inch spring form pan with oil. Line the bottom with a round piece of baking paper.
Take two large squares of aluminum foil. Place the pan on top of the foil and wrap the foil to cover the bottom and sides of the pan. This prevents water from seeping into the pan during baking.
In a mixing bowl, whip the cream cheese until light and airy. Add the sugar and mix until the mixture is smooth. Add the egg and mix until well incorporated and no yellow streaks are visible. Fold in the cream. Pour the mixture into the prepared pan.
Take a large baking pan where the spring form pan should fit. Place the spring form pan inside. Pour in boiling water -- the depth should reach half the height of the spring form pan.
Bake the cheesecake at 325F for 45 to 55 minutes or until the center is no longer jiggly.
Remove the spring form pan from the water bath and transfer to a wire rack. Cool completely.
Wrap the pan with cling film and freeze the cake for several hours. Overnight is best.