In a large pot or Dutch oven, heat the butter and olive oil over medium-low heat. Add the shallot, carrots and celery, sauteing for 10 minutes, stirring occasionally. Add the garlic and thyme, sauteing for an additional 2 minutes.

Deglaze the pan with the white wine, then pour in the broth/stock, paprika and tomato paste. Bring to a low simmer for 5 minutes to reduce.

Using an immersion blender, blend until smooth, then add the heavy cream, reducing the heat to low. Alternately, transfer the liquid to a blender or food processor and then back to the cooking vessel.

Stir in the lobster or langostino meat, sherry, salt and pepper. Continue to simmer for 3-4 minutes or until the meat is opaque and cooked.

Ladle into bowl and garnish with chopped chives.