Preheat oven to 350°F (175°C).

In a bowl, lightly beat egg, milk, 1/2 teaspoon salt, and 1 teaspoon black pepper.

In a shallow dish, mix flour and 1/2 teaspoon salt, and 1 teaspoon black pepper.

In another shallow dish, mix cornmeal, 1 teaspoon salt, and cayenne pepper.

Dredge 8 oysters in flour, shake off excess.

Dip dredged oysters into egg mixture, letting excess drip off.

Dredge coated oysters in cornmeal mixture, shake off excess.

Transfer to a rack or plate until ready to fry.

Repeat with remaining oysters in batches of 6-8.

Heat vegetable oil in a 4-quart pot over high heat to 375°F (190°C).

Cut French bread loaf into 4 equal portions and split horizontally.

Warm bread in the preheated oven for about 5 minutes.

Gently drop 1/3 of the oysters into the hot oil and fry, stirring occasionally, until golden brown (approximately 45-60 seconds).

Transfer fried oysters to paper towels to drain.

Repeat with remaining oysters in small batches.

Spread the warm bread with mayonnaise.

Top with lettuce or cabbage and fried oysters.

Add Tabasco sauce to taste, if desired.