Stir together first 5 ingredients in a small saucepan. Bring to a boil; reduce heat, and simmer 3 minutes, uncovered, or until mixture is reduced by half. Add whipping cream. Return to a boil; reduce heat, and simmer 3 minutes or until mixture is reduced by half. Remove from heat.
Whisk in butter, 1 tablespoon at a time, whisking until butter melts and sauce is thickened. Add salt and pepper. Pour mixture through a wire-mesh strainer into a bowl, discarding bay leaf and peppercorns.
Note: In testing we used Emeril's Essence seasoning blend for Creole seasoning blend for Creole seasoning.