Add the cooking oil to a skillet and heat over medium heat.
Begin by preparing the dry dredge mixture by adding the flour and seasonings to a bowl, stir to combine.
Next, in a separate bowl, make the wet dredge mixture by beating the egg and adding the buttermilk. Mix to combine and add the water to loosen the wet mixture. Whisk everything together.
Add the chicken livers to a colander and rinse. Drain well.
Next, take each chicken liver and dredge in the dry mixture, then coat in the wet mixture, and a final dredge in the dry mixture to prepare for frying. You can do all of the dredging and set aside on a sheet of parchment paper.
When the cooking oil is hot for frying, add the chicken livers in batches not to over crowd the pan.
Cook 3-4 minutes per side, turning occasionally. Chicken livers are done when firm, golden brown and crispy.
Remove the cooked livers and set aside on a paper towel lined plate or a sheet pan lined with a cooling rack to drain of excess oil.
Allow to rest 10 minutes before serving.
Serve with gravy or dipping sauce, if desired.