Hangtown Fry

Ingredients

• 3 center-cut bacon slices (about 2 1/4 ounces), thinly sliced crosswise
• 1/4 cup tap water
• 3 tablespoons ( 1 1/2 ounces ) dry vermouth
• 1 tablespoon minced shallot (from 1 [1-ounce] shallot)
• 4 raw small oysters , shucked, plus 2 tablespoons reserved oyster liquid, divided
• 5 tablespoons plus 1 teaspoon cold unsalted butter , divided
• 1 teaspoon grapeseed oil , plus more for frying
• 1/4 cup rice flour
• 1/4 cup chilled sparkling water
• 3 large eggs
• 1/8 teaspoon kosher salt, plus more to taste
• 2 tablespoons finely shredded Parmesan cheese
• 2 teaspoons minced fresh chives
• 1/8 teaspoons black pepper , plus more to taste
• 1 tablespoon osetra or Kaluga caviar (from 1 [1-ounce] jar) (see Note)
• Edible flowers (optional)

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