Combine all ingredients in saucepan and cook over medium to low heat, stirring, until butter is completely melted. Remove sauce from heat and drop shrimp in allow to marinate for 10-minutes. Then push skewers through shrimp, lengthwise, from head to tail and position on oiled grill rack about 4 inches above the coals. Baste liberally with sauce and grill for 2 minutes. Turn the shrimp over and baste again, cooking for another 2 minutes. Smaller shrimp will be done at this point, but continue basting and turning larger shrimp until they are pink and cooked through.
Remove from heat immediately when done, as they will get tough if overcooked. Use any remaining sauce as a dip.