In a Dutch oven or other sturdy, deep pan, heat 1 tablespoon of the butter with 1 tablespoon of the oil and brown the chicken until golden on all sides. Sprinkle with salt and pepper and remove from pan.
Drain off the pan drippings, give the pan a quick swipe with a paper towel to clean it a bit and then return it to low heat and add the other tablespoon of butter and tablespoon of oil. When the butter melts, add the minced shallots and cook gently for three minutes. Add the mushrooms and cook, stirring occasionally for 8 minutes or until the mushrooms are softened.
Sprinkle the mushrooms with the tablespoon of flour and cook for one minute stirring constantly. Pour on the cognac, white wine and bouillon and stir in the tomato paste. Add the browned chicken and bring to a simmer. Cover and simmer for 30 to 40 minutes, depending on how done you like your chicken and how big the pieces are. Serve topped with chopped parsley.
Makes four to six servings.
Wine Suggestion: Serve your chicken chausser with a light red such as a Beaujolais.