Melt the butter in a heavy
saucepan over medium heat. Blend in the flour. Add the cream, stirring until
smooth and starting to thicken. Add salt and cayenne, tomato paste and Old Bay,
stirring to fully blend in the tomato paste.
Add about a Tablespoon of the
sauce to the beaten egg yolks, stirring thoroughly. Add another Tablespoon of
the sauce, again stirring. Slowly add the egg mixture to the remainder of the
sauce in the heavy saucepan and cook over a very low flame for about three
minutes. Just before serving, stir in the sherry.
Mix sauce with lobster or
shrimp and serve over rice.