Beat the eggs in a bowl until they are light and frothy. Add the whitebait with a generous pinch of salt and plenty of fresh pepper. Mix well.
Take a large heavy frying pan and heat the oil and butter together over medium heat. When the butter starts to bubble and spit, add the egg and whitebait mixture in even tablespoonfuls (about five-six at a time) and cook for one-two minutes, then flip each fritter and cook the other side.
Immediately remove to a warmed plate. Continue cooking in batches of about five fritters until the mixture is finished. Serve at once with fresh lemon wedges, as finger food or for an entrée for four people.
