Source: Based on the recipe from the Manichewitz matza-meal box.
I'd try doing them on a griddle, rather than frypan, in the hopes of cutting oil.
Add the water to the egg yolks. Beat lightly and add dry ingredients, mixing well. Refrigerate until well chilled (recommend preparing in evening, to have ready for breakfast).
Beat whites to stiff peaks. Fold into prepared mixture. (If the matza meal you're using is coarse, the batter may be too runny; add more matza meal, tablespoon at a time, until of correct consistency.)
Pour oil into frypan to cover surface. Ladle batter into pan; approximately a cooking-spoon full (we used a 1/3-cup measure). Fry until golden brown on each side. Avoid turning more than once.
Enjoy with your favorite pancake topping.