Heat a large 12-inch skillet over medium heat. Add the oil and butter and when the butter is melted, add the shallots, stirring until softened slightly (about 1 minute).
Add your oyster mushroom "scallops" in a single layer and cook until nicely seared. Turn and sear on the second side.
Add garlic and toss until fragrant.
Add the wine, stock, salt, red pepper flakes, a few pinches of black pepper and half the parsley. Give a good stir. Increase the heat to medium high and cook, stirring occasionally until the wine is reduced by half and thickened slightly, 3-5 minutes. When your mushroom scallops are tender in the middle remove from the heat and stir in the lemon juice. Taste and season with salt, as needed.
Serve your scallops with crusty bread or on a bed of al dente pasta, topped with the remaining parsley and a generous helping of the sauce.