In a large pot, bring the beer, water, shrimp boil seasoning, salt, peppercorns and the juiced lemon halves to a boil over medium heat. Allow mixture to boil covered for 10 minutes. In the meantime, melt butter in a small saucepan and add the lemon juice. Add the shrimp to the pot of boiling beer, cover, and turn off heat. Check shrimp after 3 minutes for a pink color throughout. Using a slotted spoon, remove the shrimp and transfer to serving bowls.
Add 1/2 cup of the beer boiling liquid to the butter and simmer for 2 minutes, then transfer to small serving bowls. Serve the warm shrimp with the butter dipping sauce on the side, and don't forget the empty bowls for the shrimp shells. Enjoy!
Serving Suggestion: I love a great loaf of French bread with this to sop up the yummy sauce!