In a saucepan, over a low heat, slowly melt the butter with the oil and add the bacon, shallots, garlic, thyme. Cook for 2 minutes or until lightly coloured.Add in the rice and mix well. Stir while cooking for a few seconds to coat and glazed the rice without any liquid for 1 minutes.Then, pour in the white wine and again, stir until most will evaporate. Keep the heat over medium – low heat to maintain a simmer only.Now, gradually Add the stock little by little (adding the next ladle until the previous one has evaporated). It is vitally important not to rush this process but continue to add all of the liquid until the rice is plump and tender.Season this mixture now and add the garden peas, and parmesan and if you wish to obtain a nice creamy risotto you can add some cream.Check the seasoning and serve immediately.