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1. Mix together the hoisin sauce, tomato sauce, sherry, pepper, soy sauce, sugar and salt in a mixing bowl.
2. Set the mixture aside for 20 minutes.
3. Rub the halibut filets with 1 tablespoon of vegetable oil.
4. Heat a large skillet and add the remaining 2 tablespoons of oil.
5. Fry the fish for 2 minutes on both sides.
6. Drain on paper towels, and set aside.
7. Discard the oil from the skillet, and add 1 tablespoon of lard.
8. Melt over medium heat and add the soy sauce mixture, stirring well.
9. Dissolve the cornstarch in the water and pour into the skillet, stirring constantly.
10. Cook until thickened.
11. Return the fish to the skillet and cook again for 1 minute on each side.
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