In a baking dish, marinate the halibut with the olive oil, lemon pepper and lemon juice. Marinate for a couple of hours in the refrigerator. Use alderwood in grill (if available) for smoky Alaskan flavor. Place fish on hot barbecue grill and cook approximately 5 minutes per side (depending on thickness.)
In a saute pan either on stove or grill place butter, cilantro and lemon juice. Cook until melted. Place fish on decorative plates and cover with sauce. Garnish with sprig of cilantro.