Drain oysters well. Make crumbs from Saltine and role oysters gently in crumbs. Place them on a backing sheet in single layors. Beat egg, tabasco and water to make a wash. Dip each oyster, one at a time in egg wash. Roll oysters again in crumbs, pressing crumbs firmly onto each one. Return oysters to backing sheet, place wax paper between if a second layer is needed. This can can be done early in the day and refrigated until ready to fry. Deep fry in small batches in oil preheated to 350 derees. Cook oysters until brown. Do not overcok. Place on a rack, not paper to drain while frying remaining oysters. Serve with tartar sauce or ketchup.
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