Preheat the oven to 200C/400F/Gas 6.
Melt the butter with the oil in a frying pan over a medium heat. Add the shallot and fry for 2-3 minutes, until soft.
Add the potato and stir well until coated in the oil and season well with salt and freshly ground black pepper. Transfer to an ovenware dish and place into the oven to bake for eight minutes, until the potato is completely cooked and brown on top.
Remove from the oven when ready and serve in the ovenware dish.