Shuck the oysters and reserve their shells and juice. Put the oyster juice into a hot saute pan and bring it to a boil. Add the oysters and poach gently 2 3 minutes until their edges curl slightly. Put the peppercorns, garlic, and salt in a mortar and grind the mixture to a rough paste. Add a 1/2 cup of hot oyster juice to the mortar and continue to grind. Remove oysters from the saute pan and reserve. Add olive oil and bay leaves to the liquid in the pan and bring the mixture to a boil. Blend in the mixture from the mortar, then return the oysters to the pan and heat very briefly. Remove the pan from the heat and add the lime juice. Turn out onto serving plates and pour some sauce over the oysters. Serve cold or at room temperature. Refrigerate overnight for best flavor.