Place the lobster coral in a blender for 20-30 seconds, or until smooth. With the machine running on low speed, drizzle in the hot oil. Increase to high speed and continue to blend for 15-20 minutes, stopping to scrape down the sides occasionally. The oil will continue to heat in the blender from friction and will take on a red-orange color (the coral will remain dark). The longer you run the blender, the more color the oil will take on, but be careful not to damage the blender by overheating it.
Strain the oil by pouring it through a cheesecloth-lined fine-mesh sieve into a container. Cover the oil and store in the refrigerator.