Drain oysters, then blot oysters to dry on paper toweling.
Place flour and cracker crumbs on separate sheets of wax paper.
Beat eggs slightly in small bowl. Dredge oysters in flour; dip into egg,
then in crumbs, pressing crumbs to adhere. Place on wax paper-lined baking sheet.
Heat 2 tablespoons butter and 1 tablespoon oil in large, heavy skillet over
medium-high heat just until butter is melted. Add a third of the oysters and
sauté for 2 minutes until golden brown. Turn over and sauté for another 2 minutes.
Remove to a paper towel-lined tray. Empty skillet and wipe clean.
Repeat frying in 2 batches with the remaining oysters.