Saute chopped shallots in butter; add pepper to taste.
Place the lobster in 1 to 1-1/2 cups boiling water; do not submerge it in a big pot of water. (Note: the water is used to make the broth for the bisque.)
When lobster is done, remove it from the broth; reduce broth by boiling it down to about half the amount.
Add the butter, shallots, tomato soup and heavy cream; stir until blended.
Thoroughly heat bisque. Do not let boil.
Note: The secret of making good bisque is to get all the juice and meat you can from the lobster.
Break open the lobster over the pot, allowing any of the juices to fall into the pot. Remove the claws and all other parts from the lobster, allowing the juices to continue to fall into the pot.
Break the lobster in half and remove the fins from the back of the tail and remove all the meat. Break the claws open and remove the meat. Remove all the meat from the lobster that you can.
Chop all of the lobster meat.
Just before serving the bisque add the meat, and sherry to taste.