Coral oil is made with a neutral oil (even though it isn't totally neutral I use 50% extra virgin olive and 50% canola) and the cooked coral from a lobster.
The recipe for this dish is found in the French Laundry cookbook. Keller calls it Macaroni and Cheese. Once you have done the recipe once or twice it becomes really fairly simple to execute well. The key is too always have lobster stock in the freezer. I also like just using cooked down lobster stock mounted with cream to make a nice lobster broth as an ameuse bouche. A versatile dish that can be broken down into parts and used in other presentations.