In a shallow dish, beat eggs and water until blended. Set aside.
In a shallow bowl, combine flour, garlic powder, onion powder, salt, pepper and 1/2 teaspoon Old Bay seasoning.
Whisk to combine and set aside.
In another shallow bowl, whisk together panko and remaining Old Bay seasoning. Set aside.
Use scissors to cut Down back of lobster tail until you reach fan tail.
Use your fingers to get inside the tail and loosen the meat.
Pull the meat up through the opening, leaving attached at fan tail.
Dredge meat in flour mixture on both sides and shake off excess.
Dip in egg wash on both sides and allow excess to drip off.
Dip in breadcrumb mixture on both sides and press gently to get breading to stick.
Fry in 350-375 oil for turning periodically until breading is golden brown (about 5 minutes).
Place on paper towel lined plate to drain.