My dog has a horrid cyst on his eyelid. He's too old for surgery. What can I try?

The cyst is the size of an unshelled peanut and growing. It oozes, bleeds etc. Periodically it gets infected. I bathe it daily with saline solution and apply BNPH cream. When it is infected to the point of smelling the vet puts him on an antibiotic. 2 different vet consultations, don't know what to do, but agree the dog is too old for surgery. It is too big to tie off. I wonder if Actisorb Silver dressing might help. Any other thoughts??