In a shallow bowl whisk together buttermilk and egg; set aside. In a large shallow dish combine potato flakes, panko and seafood seasoning.
Dip scallops in buttermilk mixture then in potato flakes mixture, coating all sides.
In a large skillet heat the half butter and half the oil over medium heat. Add half the scallops; cook 2 minutes per side or until golden, and opaque in the centre. Transfer to a serving plate. Repeat with remaining butter, oil and scallops. Serve immediately.