Brown chicken in butter in a large skillet. Transfer to a 13- x 9- x 2-inch baking dish. Cover and bake at 375° for 30 minutes. Add cream, salt, and pepper to baking dish. Cover, and bake an additional 30 minutes or until chicken is tender. Remove chicken; place on a serving platter, and keep warm. Reserve pan juices.
Pour 3/4 cup of juices into a saucepan, and place over low heat. Add flour, stirring until smooth. Cook 1 minute, stirring constantly. Gradually add remaining reserved juices and oysters; cook over medium heat, stirring constantly, until thickened and bubbly. Spoon sauce over chicken.