BREAK EGGS IN A SMALL BOWL. ADD WATER AND BEAT UNTIL YOLK IS MIXED IN. IN A SMALL FRY PAN (7 TO 8 INCH WITH NON STICK SURFACE) MELT BUTTER OVER MEDIUM HIGH HEAT. ADD PEANUT OIL, HEAT TILL BUTTER IS NOT BUBBLING. POUR EGG INTO PAN. AS EDGES BEGIN TO SET, LIFT WITH A SPATULA AND SHAKE TO LET UNCOOKED EGG RUN UNDERNEATH. WHEN EGG NO LONGER FLOWS FREELY RUN SPATULA AROUND EDGE TO LOOSEN EGG. SLIDE OMELET ONTO SERVING PLATE AND FOLD IN HALF. (SLIDE ONTO PLATE SLOWLY, WHEN HALF ON PLATE BRING PAN OVER THE TOP TO FOLD IN HALF) NOTE: ALMOST ANYTHING CAN BE ADDED AFTER EGG IS COOKED TO FILL OMELET