Heat a large skillet over medium heat. Add ½ tablespoon extra virgin olive oil. When olive oil is hot, add asparagus. Saute for 6-8 minutes until tender and slightly browned. Season with salt and pepper to taste. Remove from skillet.
Add 1 tablespoon extra virgin olive oil. When olive oil is hot, add mushrooms. Saute for 4-6 minutes until browned. Season with salt and pepper to taste. Remove from skillet.
Cook the Shrimp
Add 1 tablespoon extra virgin olive oil and 1 tablespoon butter. Cook shrimp 2-3 minutes, until opaque and slightly browned. Remove from skillet. There should be enough oil and butter left to saute the shallots and rice.
Cook the Rice
Mix the champagne and water together.
Place the chicken stock in a pan and heat until simmering. Keep at this temperature while you are cooking the rice.
Add shallots and saute until soft, about 1 minute. Add the rice and cook for about 2-3 minutes until slightly toasty brown. Add the champagne water mixture and begin stirring the rice constantly, until the liquid mixture is mostly absorbed into the rice. Add a ladle-full of the warm chicken stock, still constantly stirring the rice until the liquid is absorbed. Keep adding the chicken stock in small amounts, making sure it is mostly absorbed until the next ladle-full is added, and still stirring the entire time. The whole process should take between 20-24 minutes. The rice should be al dente, and not mushy.
When the rice is the correct consistency, add the Parmesan cheese and stir.
Add salt and pepper to taste.
Add vegetables to rice and mix.
Serve rice topped with shrimp and Parmesan shavings for garnish.