For the Oysters: Dredge oysters in cornmeal. Heat oil in a large skillet until almost smoking. Saute oysters on each side for 1 minute. Spoon 2 teaspoons of butter sauce into each reserved shell. Top with an oyster and a heaping teaspoon of caviar
For the Aged Sherry Sauce: Place shallots and sherry vinegar in a small saucepan and reduce to 1 tablespoon over high heat. Whisk in the butter, piece by piece. Season with salt and pepper to taste.